By Iain Gilbert
Date: Thursday 31 Mar 2022
LONDON (ShareCast) - (Sharecast News) - Construction materials group Brickability has acquired Surrey-based roofing contractor Beacon Roofing for £6.5m.
Brickability said the consideration would be satisfied by an initial cash payment of £4.5m and a deferred consideration of £2.0m, payable in cash over the next three years and subject to adjustments for performance against target performance criteria.
The AIM-listed firm also highlighted that the acquisition would be funded from existing resources and was expected to be immediately earnings accretive post-completion.
In the 12 months ended 31 January, Beacon reported unaudited revenues of £8.9m and normalised underlying earnings of approximately £1.1m.
Chief executive Alan Simpson said: "Beacon is another great addition to our profitable Roofing Services division, further expanding our coverage in the South East. This acquisition follows the acquisition of Leadcraft, the Hampshire-based roofing contractor in August 2021 which continues to perform strongly."
As of 1020 BST, Brickability shares were down 0.90% at 92.66p.
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Currency | UK Pounds |
Share Price | 69.20p |
Change Today | 1.70p |
% Change | 2.52 % |
52 Week High | 77.00 |
52 Week Low | 43.25 |
Volume | 187,377 |
Shares Issued | 319.90m |
Market Cap | £221.37m |
RiskGrade | 191 |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | 25-Jan-24 | 24-Aug-23 |
Paid | 22-Feb-24 | 21-Sep-23 |
Amount | 1.07p | 2.15p |
Time | Volume / Share Price |
17:09 | 10,000 @ 69.20p |
16:35 | 150 @ 69.20p |
16:35 | 150 @ 69.20p |
16:19 | 5,803 @ 68.17p |
15:48 | 1,151 @ 68.39p |
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