Brickability’s financial results for the year to 31st March 2022 show revenue reaching £520m, up from £181m the previous year.
Pre-tax profit for the business, which floated in 2019, was £18.4m (2021: £11.1m).
Acquisitions during the year included Taylor Maxwell in June 2021, Leadcraft in August 2021, HBS NE (trading as UPOWA) in November 2021 and Beacon Roofing in March 2022. Modular Clay Products was acquired after year-end in May 2022.
The Taylor Maxwell acquisition in June 2021 for £63m by itself added £250m of turnover.
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Chief executive Alan Simpson said that the roofing division had been the most impacted by challenging market conditions. “Whilst the order books are healthy, enquiry levels are strong and order intake is good across all the roofing businesses, pricing and availability has impacted the division which operates in a predominantly fixed price environment,” he said.
“The division has benefitted from the strategic acquisitions of Leadcraft and Beacon Roofing during the year. Leadcraft has enabled the division to gain greater exposure to smaller developers and developments where fixed price contracts are less prevalent whilst Beacon Roofing has created greater geographical exposure. The acquisition of UPOWA will also have a positive impact adding a renewable energy product supplier to the group which the roofing business can take good advantage of.”
He added: “Our priority remains unchanged, we aim to secure strong order intakes with clear and sustainable margins. Overall, whilst we remain vigilant of market pressures, the housebuilding market remains strong, benefitting from sustained and increased demand in both the private and public sectors. The board therefore believes our diversified multi business strategy places us in a strong position to meet requirements moving forward.”
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