Construction materials

Year of transformation for the distributor of building materials | Wales Business News

A South Wales-based building materials distributor has reported significant increases in profit and revenue after a “transformative year” that saw strong performance across all of its divisions.

Brickability serves customers across the UK and Europe through its national and local networks. It has more than 55 locations across the country and more than 600 employees.

In the year to March 31, 2022, revenue grew 187.2% to £520.2m, like-for-like revenue growth of 31.9% compared to 2021 and 40.5% compared to 2020.

Gross profit increased by 128.4% to £86.8m, while statutory profit before tax rose from £11.2m to £18.4m.

During the year, Brickability acquired Taylor Maxwell in June 2021, Leadcraft in August 2021, HBS NE in November 2021 and Beacon Roofing in March 2022, with all acquisitions expected to be integrated and perform at or above original expectations of management.

Trading in the first quarter of Brickability’s current financial year has been described as “very encouraging” and, with the contribution of the group’s acquisitions at the end of the year and beyond, the business is well positioned to “modestly exceed market expectations”.

Chairman John Richards said: “Fiscal 2022 was a transformative year as we focused on the strategic development of the group, both organically and acquisitively.

“The year saw the group enter new market segments, increase our import and distribution capacity, expand our customer base and develop our existing product portfolio, enabling us to capitalize on and meet the strong demand across our segments and achieve our key operational and financial objectives.”

He added: “This year has been another successful year for the group and again the results achieved are due to the group’s adaptability, diversity, strength and ability to work together to responding to demands, managing pressures and seizing opportunities. We remain positive on the market outlook and the board is confident in the group’s ability to pursue its strategy.”

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