By Joe Hoppe
Brickability Group PLC said Thursday that pretax profit and revenue rose in fiscal 2022, and that it expects to modestly beat market views for fiscal 2023 as its performance in the early new year was encouraging.
The U.K. construction-materials distributor posted a pretax profit of 18.4 million pounds ($22.0 million) for the year ended March 31 compared with GBP11.2 million a year earlier. The company said the results reflect both organic and growth from acquisitions.
Revenue more than doubled to GBP520.2 million from GBP181.1 million.
The board declared a final dividend of 2.04 pence a share, taking the total dividend for the year to 3.0 pence, up from 1.95 pence the prior year.
The company said its performance in the first quarter of fiscal 2023 was encouraging, and contributions from acquisitions made after fiscal 2022 leave it well-positioned to modestly beat market expectations for the full year.
Adjusted earnings before interest, taxes, depreciation and amortization–which strips out exceptional and one-off costs–are expected to be at least GBP41.0 million for fiscal 2023, according to a market consensus provided by the company.
Shares at 0733 GMT were up 4.5 pence, or 6% at 79.0 pence.
Write to Joe Hoppe at [email protected]