Brickability says strong recovery has continued into 2021

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Brickability Group PLC (LON:BRCK) said it has “continued its strong recovery” following its interim results to September 30 and that the market for its products “continues to improve”.

In a brief trading update, the construction materials group said lockdown measures that have been in place since November have had “little material effect on trading” and it had maintained “rigorous cost control while continuing to make acquisitions and other strategic investments”.

READ: Brickability Group appoints Mike Gant as its interim CFO with effect from January 4, 2021

The company also said the fundamentals of the housing market remain strong and that it has seen “no negative impact” on trading from the UK’s departure from the European Union at the end of December.

Brickability added that its order books reflected “underlying optimism” that demand for housing and UK government support for house building will strengthen demand for building materials.

As a result of the above factors, the company said it expects to report adjusted earnings (EBITDA) for the year to March 31, 2021, of at least £16mln.

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