Brickability ends financial year above market expectations

Brickability Group lifted its expectations for the year just ended on Thursday, after a “very strong” fourth quarter.

The AIM-traded brick and building materials specialist said it now expected to report revenues for the full year ended 31 March of £520m, and adjusted EBITDA of at least £38m, ahead of current market expectations.

“Whilst remaining conscious of potential inflationary impacts, near term macroeconomic conditions and the prevailing global geo-political backdrop, the group believes that the underlying long term demand for UK housing remains robust as does the demand for quality materials for the construction sector generally,” the company said in its statement.

“The board remains confident that the group is well placed to continue delivering on its strategic objectives and the underlying organic growth of the business.

“In addition, the acquisition pipeline remains strong with the Group assessing a number of potential opportunities in line with the group's stated strategy to provide geographic and product expansion.”

At 1419 BST, shares in Brickability Group were up 2.76% at 100.7p.