Brickability Group PLC hikes dividend payout in H1FY24 despite a drop in revenue

3 min read | November 29, 2023 02:49 PM AEDT | By Team Kalkine

Google News:

Brickability Group PLC hikes dividend payout in H1FY24 despite a drop in revenue — Image source: shutterstock.com

Recent News

Why Is Insider Activity Putting Lion Rock Minerals Back in Focus?

Should Investors Be Concerned About Insider Selling at Clever Culture...

Can Lendlease’s Australia-First Strategy Rewrite Its Future?

3 ASX ETFs That Could Shape the Next Decade

Make Kalkine Media
My Trusted Source

Highlights

Brickability Group secured GBP 80 million revenue in H1 FY24, as compared to GBP 352.70 million in H1 FY23.

For H1 FY24, there has been approximately 5.9% year-on-year surge in interim dividend per share.

The Group registered a statutory profit before tax of £16.0 million in H1 FY24, representing a 8.8% YoY increase from that in H1 FY23.

FTSE AIM 100 index listed Brickability Group PLC (LSE:BRCK) is one of the prominent leading construction materials distributors.

In the first half of the fiscal year 2024, the company secured GBP 324.80 million revenue as compared to GBP 352.70 million in H1 FY23. The drop in the revenue can be attributed to the present-day challenges in the construction industry. Also, BRCK raised its borrowing facility to £100 million from £60 million. This added to the liquidity headroom of the firm to fulfil the working capital requirements as well as potential acquisitions.

During the reporting period, BRCK proposed strategic acquisition of Group Topek Holdings Limited, increasing its penetration in the cladding remediation market.

For H1 FY24, there has been approximately 5.9% year-on-year surge in interim dividend per share. BRCK has announced to pay an interim dividend of 1.07 pence per share in February 2024, with an ex-dividend date of 25 January 2024.

The group registered a statutory profit before tax of £16.0 million in H1 FY24, representing a 8.8% YoY increase over H1 FY23.

Brickability Group is planning to widen its Distribution division, using the property purchased to open new branches within the U Plastics business along with a warehouse for HBS NE. It will continue making strategic acquisitions to expand the scale and scope of its business, diversify product portfolio and widen the client network.

Top 10 Shareholders:

Approximately 66.45% of the total shareholdings is held by its top ten shareholders. While Octopus Investments Limited owns over 18% stake in the firm, becoming the biggest shareholder in the company. Liontrust Investment Partners LLP is the second biggest shareholder with approximately 10.54% shareholding.

Stock Price Performance

BRCK’s stock price has witnessed an increase of approximately 7.75% in the last one month. It has fallen by over 20.26% over the last six months. The stock’s 52-week low and high price stand at GBX 41.06 & GBX 75.00, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 27 November 2023. The reference data in this report has been partly sourced from EODHD/Others.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.