Brickability H1 revenues expected to have shot up 200% yoy

Construction materials distributor Brickability Group said on Wednesday that interim group revenues were expected to have risen 200% year-on-year.

Brickability said overall first-half revenues were projected to be roughly £223.0m, principally driven by the impact of recent acquisitions, while like-for-like interim revenues were pegged to have grown 54% year-on-year and 31% when compared to the 2019 pre-pandemic comparative.

The AIM-listed firm also currently anticipates reporting adjusted underlying earnings for the six months ended 30 September of at least £17.0m, up from £8.0m in the prior period.

Brickability added that its order book remained "extremely strong" and stated it was "well placed" to supply the UK's housebuilders as demand was expected to continue to strengthen.

Chairman John Richards said: "The UK housebuilding market has shown its resilience in recent months as the UK builds new homes at one of the fastest rates since the turn of the century.

"We remain cautiously optimistic for the future."

As of 1015 BST, Brickability shares were up 2.02% at 103.55p.