Brickability, a leading distributor and specialist products provider to the UK construction industry, reported substantial organic growth across all divisions for the 10-month period ending 31 January 2025 despite ‘challenging’ market conditions.
The AIM-listed firm announced a 12.3% like-for-like revenue increase in the four months to 31 January 2025 compared to the same period last year, with all four of the Group’s divisions contributing to this growth.
The company’s strategy of diversifying revenue streams has paid off, enabling the business to deliver solid performance during a difficult and uncertain period for the construction sector.
Particularly strong performers were the Bricks and Building Materials division and the Importing division, both of which recorded robust revenue growth compared not only with the prior period but also with the first half of the current financial year. However, the company noted that pricing has become increasingly competitive due to softer demand in the wider market.
Meanwhile, the Distribution division continues to benefit from strong interest in solar PV products through the Group’s renewables business, Upowa. The regulatory focus on building safety has also created a supportive environment for the Contracting division, which is benefiting from a multi-year pipeline and substantial order book within its specialist cladding and fire remediation businesses. This has contributed to divisional margins significantly ahead of the Group’s blended average.
Investors will be delighted to learn that the board now anticipates delivering adjusted EBITDA modestly ahead of market expectations for the year ending 31 March 2025.
“I am pleased by the way in which Brickability is performing and it is testament to our specialist, multi-channel Group structure and the hard work of the Group’s teams across the four divisions that we are able to deliver growth through a tough cycle,” said Frank Hanna, Chief Executive Office.
“At the same time, we are investing in our IT systems and the standardisation of processes to improve operating efficiencies and data analytics to better serve our customers.”