IN BRIEF: Brickability annual earnings down but lifts dividend
Brickability Group PLC - - Bridgend, Wales-based construction materials distributor - Reports results for year ended March 31. Revenue falls 13% to GBP594.1 million from GBP681.1 million year-over-year. Pretax profit falls 38% to GBP21.4 million from GBP34.5 million. Adjusted earnings before interest, taxes, depreciation, and amortization fall 13% to GBP44.9 million, from GBP51.5 million. Raises final dividend 6.0% to 2.28 pence from 2.15 pence. Total dividend increases 6.0% to 3.35p from 3.16p. Company notes continued softness in the housing market as new home construction has not aligned with housing needs. Believes its diversified business strategy positions it well for a more favourable economic environment when it arrives. Says trading in the current year has thus far been in line with management expectations. Read More