Brickability experiences 'strong organic growth' across all divisions

(Sharecast News) - Construction products group Brickability said on Wednesday that it had experienced "strong organic growth" across divisions and that "good momentum" had provided it with confidence in its FY outturn. Brickability stated that despite "a challenging market backdrop", its strategy of diversifying revenue streams had enabled it to deliver "a solid performance" during the ten months ended 31 January.

In the four months ended January, group revenue increased by approximately 12.3% year-on-year on a like-for-like basis as it recorded growth across all of its four divisions.

The AIM-listed group added that with the current trading momentum, and good visibility on the timing of orders and projects through to the year-end, it now anticipates adjusted underlying earnings being "modestly ahead" of market expectations.

Chief executive Frank Hanna said: "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.

"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."

As of 0910 GMT, Brickability shares were up 2.85% at 63.56p.







Reporting by Iain Gilbert at Sharecast.com