Brickability H1 trading in line with management expectations

22nd Oct 2024 09:46

(Sharecast News) - Construction products group Brickability said on Tuesday that its H1 financial performance was in line with internal expectations.

Brickability said interim revenues were in excess of £330.0m, an increase of 2% on the prior year period but 7% lower on a like-for-like basis.

The AIM-listed also said it anticipates reporting adjusted underlying earnings for the six months ended 30 September of at least £27.5m, up from £25.6m a year earlier, and stated its expectations for the full year remained unchanged.

Brickability stated that trading during September reflected a continuation of the trends across the group, with revenue and volumes in its Bricks and Building Materials, and Importing divisions lower than in the prior year, consistent with the wider commentary around new build housing. Distribution, however, returned to growth, driven by a doubling of sales of solar PV in Upowa.

As of 1025 BST, Brickability shares were up 4.63% at 63.30p.

Reporting by Iain Gilbert at Sharecast.com