|
Brickability Group PLC - - Bridgend, Wales-based construction materials distributor - Reports results for year ended March 31. Revenue falls 13% to £594.1 million from £681.1 million year-over-year. Pretax profit falls 38% to £21.4 million from £34.5 million. Adjusted earnings before interest, taxes, depreciation, and amortization fall 13% to £44.9 million, from £51.5 million. Raises final dividend 6.0% to 2.28 pence from 2.15 pence. Total dividend increases 6.0% to 3.35p from 3.16p. Company notes continued softness in the housing market as new home construction has not aligned with housing needs. Believes its diversified business strategy positions it well for a more favourable economic environment when it arrives. Says trading in the current year has thus far been in line with management expectations. Chief Executive Frank Hanna said: ‘As the group continues to diversify, we increase our exposure to an expanding range of specialist products and services to the UK construction industry, and at the same time we remain committed to growing in a sustainable manner. Brickability is able to successfully meet the demands and requirements of customers through long-standing relationships with customers and suppliers, consistently delivering a high-quality service.’ Current share price: 72.50 pence, down 2.6% in London on Tuesday 12-month change: up 28% Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
