BRCK Group – “the timing of any recovery in new housebuilding starts remains uncertain”, so trading should be as expected then?…

Last month on company describing itself as a “leading distributor and provider of specialist products and services to the UK construction industry” BRCK Group (BRCK), I wrote ‘“the board’s expectations for the current financial year remain unchanged”, but how creditable is that?’, concluding, with the shares at 47.25p, just on the recovery watchlist. The shares most recently closed at 49p, but what about them currently at 44p on a “Half Year Trading Update”?

#BRCK Group – H1 declines “in line with the board’s expectations”, noting macroeconomic conditions

BRCK Group – “the board’s expectations for the current financial year remain unchanged”, but how creditable is that?…

An “AGM Statement” from BRCK Group (BRCK) includes that it “benefits from a diversified business model. Trading at our Design & Install division, which focuses on specialist work including cladding remediation, has started the new financial year well and we take continued encouragement from the improvement in the pace of BSR approval decisions. The board’s expectations for the current financial year remain unchanged”. What then of a current 47.25p share price comparing to above 56p earlier this year?

#BRCK Group – “expectations for the current financial year remain unchanged… near-term market conditions remained challenging”

#BRCK Group – FY adj. EPS +8% to 8.9p, DPS maintained at 3.51p, “market environment remains challenging”

#BRCK Group – agreement to acquire H.S. Jackson & Son (Fencing) for initial £19.9m and up to further £11m

#BRCK Group – has rejected a 65p per share “indicative offer” from Atlas Holdings, now “agreed to provide some limited further information to Atlas”

Brickability (#BRCK) – H1 adj. EPS -2% to 4.8p, DPS maintained at 1.12p, “new build housing market remains subdued”

Brickability – “expectations for the full year remain unchanged”… though now reliant on an increased second half weighting

Describing itself as “a leading distributor and provider of specialist products and services to the UK construction industry”, Brickability Group (BRCK) has issued a “Half Year Trading Update” including “revenues of £347.0 million (H1 FY25: £330.9m)… despite the slow pace of recovery in housing starts and RMI as well as the continuing delays in Building Safety Regulator approvals”. So why a share price currently slightly further down at 53.2p?

Brickability (#BRCK) – H1 revenue +4.9% YoY, notes Building Safety Regulator approvals delays

Brickability (#BRCK) – trading “in line with the board’s expectations… challenging market conditions”

Brickability – “Director/PDMR Shareholding” announcement = material directors share sales

Describing itself as “a leading distributor and provider of specialist products and services to the UK construction industry”, in April Brickability Group (BRCK) was “pleased to provide a pre-close trading update for the financial year ended 31 March 2025” – with that headlined “Full year performance ahead of market expectations” and including “move into FY26 with an increasingly healthy financial position, and a business that is built for material growth as our end markets recover”. With the shares then above 60p, what of today a “Director/PDMR Shareholding” announcement?

Brickability (#BRCK) – expects FY LFL revenue +c.1%, notes “good momentum in trading throughout the second half”

Brickability (#BRCK) – four months to end-Jan LFL revenue approx. +12.3% YoY, trading “modestly ahead of market expectations”

Brickability (#BRCK) – H1 adj. EPS down to 5.03p, DPS up to 1.12p, “profitability is expected to be first half weighted due to phasing of project work in the Contracting division”

Brickability (#BRCK) – H1 LFL revenue -7% YoY, notes recent weeks “increase in inquiries”

Brickability – states “resilient” trading, but is it financial details that dare not speak their name?

An innocuous-sounding “AGM Statement”-titled announcement from group which describes itself as a “leading construction materials distributor”Brickability (BRCK), but what of the shares currently further lower in response at 63.5p?

Brickability (#BRCK) – bricks demand down year-on-year, German tile manufacturing joint venture potential write-off

Brickability (#BRCK) – FY adj. EPS down to 8.66p, DPS up to 3.35p, notes still challenging trading environment

Brickability (#BRCK) – expects FY LFL revenue -c.18%, “activity levels in the sector remaining subdued”