Business
Trading Update Replacement
Trading Update Replacement.
About this update from Brck Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9798O\n Brickability Group PLC\n 13 October 2021\n \n \n \n \n \n \n \n The following amendment has been made to the \"Trading Update\" announcement released on 13 October 2021 under RNS number 8673O which, whilst correctly stating that Group H1 2021 revenue is expected to be of c.£223m, incorrectly stated that this level of revenue was a c.300% increase compared to H1 2020. Expected H1 2021 revenues of c.£223m are an increase of c.200% compared to H1 2020. \n \n \n \n \n \n All other details remain unchanged and the full amended text is shown below. \n \n \n \n \n \n Brickability Group PLC \n \n \n LEI: 213800SK28MWXB3K3P26 \n \n \n \n \n \n 13 October 2021\n \n \n Brickability Group plc\n \n \n (\"Brickability\" or the \"Group\")\n \n \n \n \n \n Trading Update\n \n \n \n \n \n Brickability Group plc, one of the UK's leading construction materials distributors, today announces a trading update for the six-month period to 30 September 2021. \n \n \n \n \n \n The UK housebuilding sector remains in good health following a strong post pandemic recovery, driven by changing demographics, significant pent up demand and assisted by government incentives. Brickability was initially well positioned to benefit from these structural tailwinds and remains in a position to continue profiting from these prevailing themes. \n \n \n \n \n \n Group revenue for H1 2021 is expected to be c.£223m, an increase of c.200% compared to H1 2020. Adjusting for the impact of acquisitions, H1 2021 Group revenue on a like-for-like basis represents an increase of c.54% compared to the prior year and an increase of c.31% compared to H1 2019. \n \n \n \n \n \n The Board currently anticipates reporting adjusted EBITDA* for the six months to 30 September 2021 of at least £17m, which compares to £8m in the prior corresponding period. \n \n \n \n \n \n The integration of Taylor Maxwell, following completion of the acquisition in July 2021, continues to progress well, with Taylor Maxwell also benefitting from the aforementioned favourable market conditions and, in addition, the Taylor Maxwell timber division has delivered exceptional revenue and profitability since acquisition, as material shortages drove unprecedented price increases. Timber prices in recent w...