Brickability on track despite weaker UK housebuilding market
By Josh White
Date: Tuesday 25 Nov 2025
(Sharecast News) - Brickability reported a resilient first-half performance on Tuesday, and said full-year trading remained on track, despite ongoing weakness in the UK housebuilding market.
For the six months ended 30 September, revenue rose 4.9% to £347m, with growth recorded in three of the group's four divisions.
Adjusted EBITDA before share-based payments edged up 0.7% to £28.1m, although adjusted EBITDA after the change in treatment for share-based payments slipped 0.7% to £27.2m.
The AIM-traded firm said its adjusted profit before tax fell 1.9% to £21m, while adjusted earnings per share declined 2.2% to 4.79p.
Statutory profit before tax climbed 74.3% to £12.2m, with statutory earnings per share almost doubling to 2.62p.
Gross profit rose 2.2% to £64.4m, but the gross margin narrowed by 40 basis points to 18.6%.
Net debt stood at £66.8m, including £7.2m of deferred and contingent acquisition payments, and the interim dividend was held at 1.12p per share.
The group reiterated that from the current financial year, share-based payments would be treated as part of ongoing operations and no longer excluded from adjusted metrics.
Brickability said it continued to invest in IT system upgrades and process efficiencies during the period.
Management said trading conditions remained difficult, with private housing starts subdued and delays at the Building Safety Regulator gateway slowing activity.
However, the company pointed to a strong order pipeline, including more than £150m in its Contracting division, and said medium-term housing demand remained underpinned by a structural supply deficit.
The group also announced plans to rebrand as BRCK Group to reflect its broadened product and services offering.
Chief executive Frank Hanna said the company had "continued to demonstrate the Group's resilience by reporting robust results in the first half of the current financial year."
"We enter the second half with a strong and well-balanced forward order book and a diversified business which is performing well despite challenges in our end markets, notably the low level of private housing starts and the delays in the Building Safety Regulator gateway," he added.
"Whilst cognisant of any worsening of these external factors, we are pleased to report that the group is tracking in line with market expectations for the full year."
At 0942 GMT, shares in Brickability Group were up 0.39% at 52p.
Reporting by Josh White for Sharecast.com.
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