Brickability post strong results despite year-on-year fall in revenue and profit
Brickability have seen a slight fall in year-on-year revenue as the company’s accounts were hit by early year trading restrictions.
The concrete block and brick manufacturer saw a 3.2 per cent fall in its revenue from £187.1m in 2020 to £181.1m in 2021. Restrictions brought on the pandemic are thought to be the reason behind it.
Despite the restrictions, the performance was strong and there has been a recovery from the Covid-19 pandemic.
However, profit before tax saw a downward trend of 8.4 per cent year-on-year, from £12.2m in 2020 to £11.2m this year.
April 2020 saw a significant reduction in homebuilding by the firm and as a result this is reflected in the results.
The EBITDA for the company also saw a slight fall of 10.1 per cent, to around £17.5m this year. Despite the slight decreases in EBITDA and revenue, Brickability said they were pleased with their performance over the year.
They believe that they adapted well to the obstacles posed both by Brexit and by the pandemic, while amidst this were also able to successfully launch their new ceramics business.
Chairman John Richards said: “FY2021 has been another strong year for Brickability Group.
In a challenging and uncertain year for the economy at-large Brickability showed its ability to adapt quickly and successfully as well as maintain focus – a real testament to the strength and diversity of the business, and the management team we have.
This is underscored by the two strategic acquisitions we made during the year.”
The acquisitions made were of Taylor Maxwell, in June 2021, and Leadcraft in August 2021.
“Against this backdrop we believe that the Group is well-positioned to take full advantage of a robust and improving construction market and the order book is strong. The pipeline going forward looks encouraging,” Richards went on to say.