The Brickability Group Plc Board is to declare an increase in the interim dividend to 1.12 pence per share (H1 FY24: 1.07 pence), in line with the Group's progressive dividend policy, which reflects the performance of the business in the half year and the Board's confidence in the future.
Other financial highlights include:
Resilient, in line performance despite sustained macroeconomic conditions, with revenue growth of 1.9% or a like-for-like (LFL)(6) reduction of 7.4%
Improvement in Adjusted EBITDA margin of 50 bps validating the benefits of the recent strategic and structurally higher margin acquisitions
Strong revenue performance in the Contracting and Distribution divisions, driven by a doubling of sales of solar PV in Upowa, highlighting the benefit of the Group's diversification strategy
FY24 full-service specialist cladding installation and remediation contracting acquisitions of Topek and TSL are performing well and trading in line with the pre-acquisition investment case
Streamlined senior leadership team, focused on growth and operational outperformance
Investment underway in IT systems upgrades and process efficiencies
