Brickability Group PLC Pre-Close Trading Update (8141I)
21 April 2022 - 4:00PM
UK Regulatory
TIDMBRCK
RNS Number : 8141I
Brickability Group PLC
21 April 2022
21 April 2022
Brickability Group plc
("Brickability" or "the Group"),
Pre-Close Trading Update
Brickability Group plc (AIM: BRCK), the leading construction
materials distributor, is pleased to provide the following update
on trading for the year ended 31 March 2022.
As set out in the Company's Trading Update of 18 January 2022,
the Group commenced the second half of the financial year with each
of Brickability's business divisions delivering strong performance
and with the Group then expecting that demand for the Group's
diverse multi business product offering would continue to build
throughout the remainder of the year.
The Group is now pleased to confirm that due to ongoing positive
momentum, this strong delivery has continued, with a very strong
fourth quarter of the full financial year having been achieved.
As a result, the Group announces that it now expects to report
revenues for the full year ended 31 March 2022 of approximately
GBP520 million and adjusted EBITDA* of not less than GBP38 million,
ahead of current market expectations.
Whilst remaining conscious of potential inflationary impacts,
near term macro-economic conditions and the prevailing global
geo-political backdrop, the Group believes that the underlying long
term demand for UK housing remains robust as does the demand for
quality materials for the construction sector generally. The Board
remains confident that the Group is well placed to continue
delivering on its strategic objectives and the underlying organic
growth of the business.
In addition, the acquisition pipeline remains strong with the
Group assessing a number of potential opportunities in line with
the Group's stated strategy to provide geographic and product
expansion.
The Group will notify the date of its full year results for the
twelve months ended 31 March 2022 in due course.
*Adjusted EBITDA is defined as earnings before interest, tax,
depreciation and amortisation, share option expense, acquisition
costs and exceptional items.
-ENDS-
This announcement contains inside information.
Enquiries:
Brickability Group plc via Montfort Communications
John Richards, Chairman
Alan Simpson, CEO
Mike Gant, CFO
Cenkos Securities plc (Nominated adviser
and broker)
Ben Jeynes, Max Gould (Corporate Finance)
Julian Morse, Alex Pollen (Sales) +44 (0) 207 397 8900
Montfort Communications (Financial +44 (0) 203 514 0897
PR) brickability@montfort.london
James Olley
Georgia Colkin
About Brickability
Brickability is a leading construction materials distributor,
serving customers across the UK and Europe for over 36 years
through its national and local networks. The Group supplies over
500m bricks annually and has 41 locations across the country with
over 500 employees.
Across its 3 divisions the Group supplies bricks, roofing,
timber, cladding, heating, flooring, doors and windows to meet
demand from both housebuilders and contractors.
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END
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