Construction product supplier Brickability has posted an increase in revenue amid an upturn in energy efficiency and fire remediation work.
The Bridgend-based firm revealed in its interim results an income of £330.9m for the six months to 30 September 2024.
This was up 1.9 per cent from the same period last year although pre-tax profit fell by more than half over the same timescale to £7m.
Brickability bought cladding specialists Topek and TSL in October 2023 and January 2024 respectively. It said both businesses had “contributed meaningfully” in the latest period.
The group statement issued yesterday (26 November) noted the “urgent requirement for remediation of unsafe cladding” and described this as “a significant market where demand for our services will persist for many years”.
Meanwhile, its renewable energy business Upowa doubled sales, with photovoltaic systems on new homes a “major contributor” as regulatory changes drove development of more efficient buildings.
Brickability said the residential and commercial repair and maintenance markets remained challenging, as did the new-build housing sector.
But it added: “We are seeing early indications of recovery, for example, in brick order intakes, roofing orders and other product enquiries.
“As the market improves, we continue to view the group’s brick sourcing and distribution activities as exciting, owing to our differentiated position in the UK brick market.”
The firm said its network of European manufacturers meant it could capitalise on housebuilder demand for imported clay stock bricks.
“The mid to long-term fundamentals of the UK housing market remain robust, with the historical undersupply of housing evidenced through the government’s commitment to 1.5 million homes under its parliament, presenting a significant potential for growth within the housebuilding supply chain,” it added.
“We are encouraged by the improving interest rate environment, a slowing inflation trend, and by initiatives from the government to support both private sector and social housing.”
