13th Feb 2023 08:36
(Alliance News) - Brickability Group PLC on Monday said it expects full-year earnings to be ahead of market expectations, following a strong performance across all of its business divisions.
Shares in the construction materials distributor were up 8.4% to 74.50 pence each in London early Monday.
The Bridgend, Wales-based company said it has continued to deliver a strong performance across all of its business division, following the release of its interim results for the six months ended September 30.
Brickability now expects to reported adjusted earnings before interest, tax, depreciation and amortisation of at least GBP47 million for the year to March 31. This is ahead of market expectations and last year's result. Current consensus analyst forecasts for financial 2023 Ebitda is GBP44.7 million, according to the company. In financial 2022, Brickability reported adjusted Ebitda of GBP39.5 million.
"The group's continued positive performance, despite the wider challenges and uncertainty, underlines the importance of Brickability's diverse multi business strategy, which has, once again, enabled the business to successfully navigate these pressures," the company asserted.
Looking ahead, Brickability said it remains confident that it is well placed to continue delivering on its strategic objectives and the underlying growth of the business, but remains mindful of short term impacts that bring a challenging macro-economic environment.
In November, Brickability reported a 72% surge in pretax profit in the six months ended September 30 to GBP15.3 million from GBP8.9 million a year before. Revenue increased by 58% to GBP352.7 million from GBP223.5 million.
By Sophie Rose, Alliance News reporter
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