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By Joe Hoppe
Brickability said its performance in the first four months of fiscal 2024 has met its expectations, and while it expects a more difficult environment ahead, it is well-placed to navigate the current market backdrop.
The U.K. construction-materials distributor said Tuesday that it performed well throughout the first quarter of the year ending March 31 and through to the end of July.
While it expects the month of August will be typically seasonal, Brickability said management remains aware of volume reductions experienced by certain house builders and manufacturers due to macroeconomic conditions.
“Although the remainder of the current year is therefore likely to present a more challenging trading environment for the group, the board believes that Brickability’s diversified, multi-business, approach enables the group to continue to perform well in the current market backdrop and that this strategy best positions the group for the future,” Chairman John Richards said.
Shares at 0739 GMT were down 1.0 pence, or 2%, at 50.0 pence.
Write to Joe Hoppe at [email protected]
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