Brickability revenue and profit more than doubles amid record demand for homes
British merchants Brickability has reaped the rewards of housebuilders’ steamroll in the property market, having had its revenue nearly triple in the past year.
Housebuilders in the UK have rushed to take advantage of record property prices, in trying to up their completions despite raw material inflation and supply chain disruptions.
Revenue surged 187 per cent to £520.2m in the year to 31 March, up from £181.1m in 2021, the company revealed today.
Shares rose 5.37 per cent to 78.5p per share by early afternoon.
The company has rewarded shareholders with a more than 50 per cent rise in total dividend, which came in at 3p per share, versus 1.9p a piece last year.
London-listed Brickability also saw gross profit more than double in the 12-month period, from £38m to £86.8m, partly buoyed by its push into plastic materials, alongside bricks and building supplies.
In a statement today, chairman John Richards called the year “transformational” for the company.
“The year saw the group move into new segments within the market, increase our import and distribution capacity, expand our customer and client base and build upon our existing product portfolio, all of which has enabled us to capitalise and respond to the strong demand across our sectors and achieve our key operational and financial objectives,” he added. “We remain positive with regards to the market outlook and the Board is confident in the Group’s ability to continue delivering on its strategy.”