Brickability Group PLC (LON:BRCK) said it expects to report full-year revenues and earnings “ahead of previous expectations” despite “significant operational challenges” caused by the Coronavirus (COVID-19) pandemic.
In a trading update for the year ended March 31, the construction materials group said it delivered a “solid trading performance” and expects to report adjusted earnings (EBITDA) of over £17mln and revenues of around £180mln.
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The company said it had maintained a strong focus on margins and cost control during the year, while it also strengthened its sales team to satisfy ongoing demand. Brickability also said it benefitted from the positive contributions of its recent acquisitions.
Looking ahead, the firm said its order books indicated “confidence in the robustness of the homebuilding market, and underlying optimism that demand will remain strong for quality building materials”.
“We remain conscious of the impact of the pandemic to the broader economy and potential uncertainty as to the strength of its recovery, however the group fundamentally believes that the underlying demand for UK housing remains robust and expects to deliver further growth in revenue and profitability during the current financial year”, the company said.
Brickability added its acquisition pipeline remains strong and it is assessing “a number of potential opportunities” in line with its strategy.