Brickability Group PLC (AIM:BRCK) increased its interim dividend 10.6% as revenues increased threefold and profits more than doubled.
The AIM-listed building materials group declared a dividend of 0.96p per share, up from 0.8678p a year ago and said full-year results will be “at least in line with market expectations”.
Profit before tax was £11.9mln for the six months to 30 September, up 120% year-on-year, with underlying earnings (EBITDA) up by the same percentage to £17.6mln.
Revenues, which were reported in a year-end trading update in October, surged 197% to £223.5mln, or 53.6% if excluding acquisitions.
Strong order intake momentum was spread across all divisions and continued into the second half of the year and the board expressed confidence the company’s full-year results will be “at least in line with market expectations”.
Chairman John Richards said: “As the housebuilding and construction market has continued to improve, all our divisions have benefitted from the increased demand which has resulted in a strong order book.”
He hailed Brickability’s bolt-on acquisition strategy, with timber and cladding specialist Taylor Maxwell and roofing outfit Leadcraft purchased during the half, as well as entering the renewable energy product space with the acquisition of HBS New Energies and its subsidiary UPOWA.
Richards said the latter deal represents a “strategically significant” sector for the group.
“We believe Brickability is well positioned for the future, and that the scale and diversity of the business, will enable the group to capitalise on opportunities in the market and further strengthen our positioning."