Shares in building materials provider Brickability Group PLC (AIM:BRCK) fell 11.5% to 67.57p on Tuesday as the brick supplier confirmed sales are under pressure
Brickabillity revealed that market volumes for bricks in the UK have been significantly lower in the last 12 months, “with UK despatches for the calendar year 2023 approximately 30% lower than 2022”.
Brick imports into the UK are estimated to have fallen by 42%, said the group, with Brickability’s sales volume reflecting these market trends
Furthermore, pricing is becoming increasingly competitive given the softer demand.
Full-year underlying profit [EBITDA] expectations have been guided towards the lower end of current market expectations of between £44.8 million to £47.2 million.