26th Apr 2024 11:50
Brickability Group PLC - Bridgend, Wales-based construction materials distributor - Revenue for the financial year that ended March 31 is estimated to be GBP594 million, down 13% from GBP681 million in financial 2023, or down 18% on a like-for-like basis. This is after trading in the fourth quarter is in line with management expectations of lower demand for bricks and other building products. Adjusted earnings before interest, tax, depreciation and amortisation is estimated to be at least GBP44.8 million, in line with previous company guidance, but down 13% from GBP51.5 million the year before.
"Despite activity levels in the [UK construction] sector remaining subdued, the board believes that with leading positions across a diverse portfolio offering, the group enters the new financial year well positioned to benefit materially from a recovery in its end markets," Brickability says.
Current stock price: 66.19 pence, down 2.7% in London on Friday
12-month change: also down 2.7%
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.