Business
Brickability Group plc - Interim Results
Brickability Group plc - Interim Results.
About this update from Brck Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1155U\n Brickability Group PLC\n 01 December 2021\n \n \n \n \n \n \n \n 01\n \n December 2021\n \n \n \n \n \n Brickability Group plc\n \n \n (\"the Group\")\n \n \n \n \n \n Interim Results for the six months ended 30 September 2021\n \n \n \n \n \n Brickability Group plc (AIM: BRCK), the leading construction materials distributor, today announces its unaudited interim results for the six months ended 30 September 2021.\n \n \n \n \n \n Financial Highlights:\n \n \n \n \n \n \n •\n \n \n \n \n Revenue increased by 197% to £223.5m (H1 2020: £75.3m)\n \n \n \n \n \n \n •\n \n \n \n \n Group like-for-like** revenue growth of 53.6% versus H1 2020 and 30.4% versus H1 2019 \n \n \n \n \n \n \n •\n \n \n \n \n Gross profit increased by 146.8% to £39.0m (H1 2020: £15.8m)\n \n \n \n \n \n \n •\n \n \n \n \n Gross profit margin of 17.4% (H1 2020: 21.0%)\n \n \n \n \n \n \n •\n \n \n \n \n Profit before tax increased by 120.4% to £11.9m (H1 2020: £5.4m)\n \n \n \n \n \n \n •\n \n \n \n \n Adjusted EBITDA* increased by 120.0% to £17.6m (H1 2020: £8.0m)\n \n \n \n \n \n \n •\n \n \n \n \n Cash balance at 30 September of £18.4m (H1 2020: £13.8m)\n \n \n \n \n \n \n •\n \n \n \n \n Net cash as at 30 September of £2.8m (H1 2020: net debt £2.7m)\n \n \n \n \n \n \n •\n \n \n \n \n Borrowing facility increased to £60 million plus £25m accordion following re-financing\n \n \n \n \n \n \n •\n \n \n \n \n Interim dividend proposed of 0.96 pence per share (H1 2020: 0.8678 pence)\n \n \n \n \n \n \n \n \n \n Operational Highlights:\n \n \n \n \n \n \n •\n \n \n \n \n Strong start to 2021, with performance ahead of same period in 2019 pre-COVID\n \n \n \n \n \n \n •\n \n \n \n \n Acquisitions of Taylor Maxwell, in June 2021 following an oversubscribed share placing raising equity finance of £55 million, and Leadcraft, as announced in August 2021\n \n \n \n \n \n \n •\n \n \n \n \n Taylor Maxwell acquisition recognised with the 2021 AIM Awards 'Transaction of the Year' Award\n \n \n \n \n \n \n •\n \n \n \n \n New product ranges added to Group offering, timber and non-combustible cladding, copper and zinc metal roofing and heritage leadwork\n \n \n \n \n \n \n •\n \n \n \n \n Focus on revenue and cost synergies \n \n \n \n \n \n \n •\n \n \n \n \n Strong pipeline of acquisitions ...