Brickability delivers ‘resilient’ half year

Revenue for the six months to 30 September 2024 rose 1.9 per cent to £330.9 million from £324.8 million in half year 2024.

However, the Wales-headquartered product supplier saw a dip in pre-tax profit down 56.3 per cent to £7 million from £16 million in the same period the year previous.

The firm claimed its strong revenue performance in the Contracting and Distribution divisions, driven by a doubling of sales of solar PV in Upowa highlighted the benefit of the Group’s diversification strategy.

The group claimed its recent acquisitions “contributed meaningfully in the period, and represent a conscious effort to drive the Group’s blended margin.”

In October 2023, Brickability acquired cladding specialists Topekin and Topek Southern Limited (TSL) in January 2024.

Frank Hanna, chief executive officer, said: “This has been a positive half for the business, and I view the future with cautious optimism.

“Enquiry levels are picking up, the order intake is encouraging, and importantly, well represented across each of our four divisions. 

“We remain confident in a recovery of the new build housing market, and Brickability is well positioned to significantly benefit when it happens.

“Having now been in the business for six months I’ve been able to take a detailed look at the Group. 

“My initial impressions remain intact, this is a great business with a strategy of diversification, providing high quality specialist products and services for our customers. 

“The Group has significantly evolved from predominantly being a brick distributor, and is now a diversified group of scale with strong foundations. 

“My focus has been on improving the fundamentals of the business, ensuring through cycle resilience whilst retaining the entrepreneurial spirit at our core, and I look forward to the future with confidence in our ability to deliver excellent results when market growth returns.”