17th Jul 2023 10:00
(Alliance News) - Brickability Group PLC on Monday reported double digit-growth revenue and profit growth, noting strong momentum across its businesses.
The Bridgend, Wales-based construction materials distributor said in the year ended March 31, pretax profit soared by 88% to GBP34.5 million from GBP18.4 million a year prior.
Revenue also grew by 31% to GBP681.1 million from GBP520.2 million the year before. This was attributed to strong momentum across all of its business divisions, with its Brick & Building Materials division delivering the highest revenue of GBP498.6 million, up 23% from GBP404.6 million the year before.
Brickability declared a final dividend of 2.15 pence per share, up 5.4% from 2.04p in financial 2022, bringing the total dividend to 3.16p per share, up 5.35 from 3.00p per share a year before.
Looking ahead, the company said it remains cautious due to uncertainty within the housing sector market, and is therefore prioritising to secure strong order intakes. Nevertheless, Brickability stressed, it is well-positioned to navigate the "uncertain times ahead".
Chair John Richards said: "Our continued focus on the strategic expansion and diversification of the business has seen the group achieve impressive growth in the year. Over the past year, the housebuilding market has been faced with new challenges arising from the macroeconomic and geopolitical environment. Considering the headwinds faced in the wider market environment, the board is very pleased with the group's performance.
Shares in Brickability were up 2.2% at 56.40p each in London on Monday morning.
By Sabrina Penty; Alliance News reporter
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