Yesterday's trading statement provides some reassurance in the resilience of Brickability's operating model. Underlying revenue growth of 10% and a strong increase in EBITDA underlines this. The outlook remains cognisant of the uncertain macro backdrop and the potential impact on the house building sector, but the diversity of its product mix should help to offset some of these headwinds. We make no change to forecasts and on a sub 6x FY23E EBITDA with a c4% yield we reiterate our BUY.
20 Oct 2022
Cenkos: Brickability Group Plc -- Reassuring in uncertain times
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Cenkos: Brickability Group Plc -- Reassuring in uncertain times
Brickability Group PLC (BRCK:LON) | 67.5 0 0.0% | Mkt Cap: 215.7m
- Published:
20 Oct 2022 -
Author:
Andrew Gibb -
Pages:
7
Yesterday's trading statement provides some reassurance in the resilience of Brickability's operating model. Underlying revenue growth of 10% and a strong increase in EBITDA underlines this. The outlook remains cognisant of the uncertain macro backdrop and the potential impact on the house building sector, but the diversity of its product mix should help to offset some of these headwinds. We make no change to forecasts and on a sub 6x FY23E EBITDA with a c4% yield we reiterate our BUY.