Brickability trading in line despite market weakness

(Sharecast News) - Brickability Group said on Tuesday that trading in the first five months of its financial year had been in line with expectations, despite ongoing weakness in the UK construction market. Ahead of its annual general meeting, the AIM-traded distributor of construction products said market conditions remained challenging, citing a slow pace of recovery in housing starts and repair, maintenance and improvement (RMI) activity, and delays in approvals by the Building Safety Regulator.

"The board's expectations for adjusted EBITDA for the full year remain unchanged," said chairman John Richards.

"We remain confident in the group's ability to deliver long-term shareholder value, with the business well positioned to benefit quickly as market demand incrementally improves towards more normalised levels."

The company said it ws planning to issue a first-half trading update towards the end of October.

At 0844 BST, shares in Brickability Group were up 4.69% at 56.11p.

Reporting by Josh White for Sharecast.com.