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 | 74.00p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 77.00 |
52 Week Low | 43.25 |
Volume | 105,435 |
Shares Issued | 319.84m |
Market Cap | £236.69m |
RiskGrade | 191 |
Value |
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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 |
16:40 | 2,006 @ 74.00p |
16:39 | 6 @ 74.00p |
16:18 | 10,000 @ 73.98p |
16:12 | 312 @ 73.00p |
16:12 | 10 @ 75.00p |
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