Brickability confident in its trading despite macro concerns

Construction materials distributor Brickability said in an update on Tuesday that trading in the current financial year to 31 March 2024 had continued well, with the group performing in line with board expectations throughout the first quarter and to 31 July.

The AIM-traded firm, which was holding its annual general meeting, said that while the board's expectations were that the month of August would be typically seasonal, it remained cognisant of volume reductions experienced by certain housebuilders and manufacturers due to macroeconomic conditions.

Chairman John Richards said that, although the rest of the current year was thus likely to present a more challenging trading environment for the group, the board believed that Brickability's diversified, multi-business approach enabled it to continue to perform well in the current market backdrop, and that the strategy best positioned it for the future.

“The company looks forward to providing a further update in a scheduled trading update in respect of the first half towards the end of October.

“I would like to take this opportunity to thank all of my Brickability colleagues for their continued hard work.

“Their drive and entrepreneurial spirit provides Brickability with its adaptability, diversity, strength and ability.”

At 1150 BST, shares in Brickability Group were down 5.77% at 48.06p.

Reporting by Josh White for Sharecast.com.