Announcement • Apr 26
BRCK Group plc Provides Earnings Guidance for the Financial Year Ended 31 March 2026 BRCK Group plc provided earnings guidance for the financial year ended 31 March 2026. BRCK Group expects to report another year of revenue growth at approximately £645.0 million, an increase of c.1.2% over the prior year (FY25: £637.1 million). Announcement • Apr 02
Atlas FRM LLC cancelled the acquisition of BRCK Group plc (AIM:BRCK) for approximately £210 million. Atlas FRM LLC proposed to acquire BRCK Group plc (AIM:BRCK) for approximately £210 million on February 17, 2026. A cash consideration valued at £0.65 per share will be paid by Atlas FRM LLC. The Proposal would be funded solely through equity from the Atlas funds and would not be reliant on any third-party financing.
The transaction is subject to approval of merger agreement by target board and consummation of due diligence investigation. The deal has been rejected by the board due to inadequate offer price. Ed Banks, Alex Bennett and Hugo Bax of Evercore Partners International LLP and Ben Jeynes, Henrik Persson and George Lawson of Cavendish Capital Markets Limited acted as financial advisors to BRCK Group plc. Osman Akkaya, Akshay Majithia and James Tiffin of Barclays Bank PLC acted as financial advisor to Atlas FRM LLC.
Atlas FRM LLC cancelled the acquisition of BRCK Group plc (AIM:BRCK) on March 23, 2026. The Board reviewed this proposal carefully with its financial advisers and unanimously concluded that it fundamentally undervalued BRCK. Accordingly, the Board rejected this proposal. New Risk • Mar 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (106% payout ratio). Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Upcoming Dividend • Jan 15
Upcoming dividend of UK£0.011 per share Eligible shareholders must have bought the stock before 22 January 2026. Payment date: 19 February 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.5%. Within top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.3%). Board Change • Jan 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Katie Long was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (106% payout ratio). Large one-off items impacting financial results. Announcement • Oct 21
Brickability Group Plc to Report First Half, 2026 Results on Nov 25, 2025 Brickability Group Plc announced that they will report first half, 2026 results on Nov 25, 2025 Upcoming Dividend • Aug 28
Upcoming dividend of UK£0.024 per share Eligible shareholders must have bought the stock before 04 September 2025. Payment date: 26 September 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.9%. Within top quartile of British dividend payers (5.4%). Higher than average of industry peers (2.2%). New Risk • Jul 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (172% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Significant insider selling over the past 3 months (UK£2.8m sold). Declared Dividend • Jul 17
Final dividend of UK£0.024 announced Shareholders will receive a dividend of UK£0.024. Ex-date: 4th September 2025 Payment date: 26th September 2025 Dividend yield will be 5.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (172% earnings payout ratio). However, it is well covered by cash flows (40% cash payout ratio). The dividend has increased by an average of 12% per year over the past 6 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 91% to bring the payout ratio under control. EPS is expected to grow by 100% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Jul 16
Full year 2025 earnings released: EPS: UK£0.02 (vs UK£0.051 in FY 2024) Full year 2025 results: EPS: UK£0.02 (down from UK£0.051 in FY 2024). Revenue: UK£637.1m (up 7.2% from FY 2024). Net income: UK£6.53m (down 57% from FY 2024). Profit margin: 1.0% (down from 2.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jul 16
Brickability Group Plc, Annual General Meeting, Sep 16, 2025 Brickability Group Plc, Annual General Meeting, Sep 16, 2025. Announcement • Jul 15
Brickability Group Plc Proposes Final Dividend for the Year Ended 31 March 2025, Payable on September 26, 2025 Brickability Group Plc paid an interim dividend of 1.12 pence per share (2024: 1.07 pence) on 20 February 2025, which reflected the performance of the business and the Board's confidence in the longer-term outlook. The solid performance of the Group enables the Board to recommend the payment of a final dividend for the year ended 31 March 2025 of 2.39 pence per share (2024: 2.28 pence). Subject to shareholder approval at the Annual General Meeting, the final dividend will be paid on 26 September 2025, with a record date of 5 September 2025 and an ex-dividend date of 4 September 2025. Announcement • Jun 26
Brickability Group Plc to Report Fiscal Year 2025 Results on Jul 15, 2025 Brickability Group Plc announced that they will report fiscal year 2025 results at 6:00 AM, Coordinated Universal Time on Jul 15, 2025 Recent Insider Transactions • Jun 18
Insider recently sold UK£2.1m worth of stock On the 11th of June, Paul Hamilton sold around 3m shares on-market at roughly UK£0.69 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£3.7m more than they bought in the last 12 months. New Risk • Jun 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Dividend is not well covered by earnings (129% payout ratio). Profit margins are more than 30% lower than last year (1.4% net profit margin). Announcement • May 02
Brickability Group plc Appoints Kathleen (Katie) Long as Independent Non-Executive Director Effective 1 May 2025 Brickability Group PLC announced the appointment of Kathleen (Katie) Long as an independent Non-Executive Director of the Group with effect from 1 May 2025. Katie has over 15 years' experience working within a listed company environment, supporting organizations with the execution of their M&A growth strategies, as well as being CFO with responsibility for financial reporting, risk management, and the design and implementation of corporate governance structures. Katie is a co-founder and director of Tessera and prior to this, was an investment manager at Marwyn Capital where she led and managed a number of listed equity investments. Katie qualified as a chartered accountant with EY and is a member of the ICAEW and Chartered Accountants Australia and New Zealand. She is also a Non-Executive Director of a VC-backed technology company. Kathleen (Katie) Joy Long, aged 46, has held the following directorships or partnerships in the past five years: Current directorships or partnerships include Tessera Investment Management Limited, Razorsecure Limited, and Colbridge Atlas Investments LLP. Directorships or partnerships held in the past five years include Celadon Pharmaceuticals PLC, Harley Street (CPC) Limited, Tessera Investment Partners LLP, and Tessera Partners UK Limited. Buy Or Sell Opportunity • Apr 17
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at UK£0.60. The fair value is estimated to be UK£0.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 265% in the next 2 years. Buy Or Sell Opportunity • Mar 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.0% to UK£0.60. The fair value is estimated to be UK£0.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 265% in the next 2 years. Major Estimate Revision • Mar 04
Consensus EPS estimates fall by 26%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from UK£616.7m to UK£630.5m. EPS estimate fell from UK£0.033 to UK£0.024 per share. Net income forecast to grow 196% next year vs 8.6% growth forecast for Trade Distributors industry in the United Kingdom. Consensus price target up from UK£0.97 to UK£1.00. Share price fell 5.2% to UK£0.59 over the past week. Buy Or Sell Opportunity • Mar 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.0% to UK£0.60. The fair value is estimated to be UK£0.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 265% in the next 2 years. Upcoming Dividend • Jan 16
Upcoming dividend of UK£0.011 per share Eligible shareholders must have bought the stock before 23 January 2025. Payment date: 20 February 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.6%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (2.3%). Announcement • Dec 20
Clive Norman Does Not Intend to Stand for Re-Election as A Director of Brickability Group Plc Brickability Group PLC announced that after six years as a Non-executive Director, Clive Norman has informed the Board that he does not intend to stand for re-election as a director at the Company's 2025 annual general meeting to be held in September 2025. Declared Dividend • Nov 28
First half dividend increased to UK£0.011 Dividend of UK£0.011 is 4.7% higher than last year. Ex-date: 23rd January 2025 Payment date: 20th February 2025 Dividend yield will be 5.7%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is not covered by earnings (129% earnings payout ratio). However, it is well covered by cash flows (27% cash payout ratio). The dividend has increased by an average of 14% per year over the past 5 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 43% to bring the payout ratio under control. EPS is expected to grow by 211% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Nov 27
Brickability Group Plc Declares Interim Dividend, Payable on 20 February 2025 The Board of Brickability Group Plc has declared an interim dividend of 1.12 pence per share (H1 FY24: 1.07 pence) to shareholders on the register as at 24 January 2025. The ex-dividend date and payment date for the dividend will be 23 January 2025 and 20 February 2025 respectively. Announcement • Nov 19
Brickability Group Plc to Report First Half, 2025 Results on Nov 26, 2024 Brickability Group Plc announced that they will report first half, 2025 results on Nov 26, 2024 Announcement • Oct 22
Brickability Group plc Provides Revenue Guidance for the Six Month Period to 30 September 2024 Brickability Group Plc provided revenue guidance for the six-month period to 30 September 2024. For the period the company expects the revenues in excess of £330 million, an increase of 2%. on the prior year period. Upcoming Dividend • Aug 22
Upcoming dividend of UK£0.023 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 26 September 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (3.6%). Recent Insider Transactions • Aug 19
Insider recently sold UK£690k worth of stock On the 12th of August, Paul Hamilton sold around 1m shares on-market at roughly UK£0.69 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought UK£256k more than they sold in the last 12 months. Recent Insider Transactions Derivative • Aug 12
Insider exercised options and sold UK£53k worth of stock On the 8th of August, Richard Cosgrove exercised 162.76k options at around UK£0.01, then sold 78k of the shares acquired at an average of UK£0.69 per share and kept the remainder. As of today, Richard currently holds no shares directly. Company insiders have collectively bought UK£581k more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Jul 18
Final dividend increased to UK£0.023 Dividend of UK£0.023 is 6.0% higher than last year. Ex-date: 29th August 2024 Payment date: 26th September 2024 Dividend yield will be 4.6%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 14% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 40% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 17
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: UK£0.051 (down from UK£0.093 in FY 2023). Revenue: UK£594.1m (down 13% from FY 2023). Net income: UK£15.4m (down 45% from FY 2023). Profit margin: 2.6% (down from 4.1% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Basic Materials industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jul 17
Brickability Group Plc, Annual General Meeting, Sep 11, 2024 Brickability Group Plc, Annual General Meeting, Sep 11, 2024. Announcement • Jul 12
Brickability Group Plc to Report Fiscal Year 2024 Results on Jul 16, 2024 Brickability Group Plc announced that they will report fiscal year 2024 results at 6:00 AM, Coordinated Universal Time on Jul 16, 2024 Recent Insider Transactions Derivative • Jun 17
Key Executive exercised options and sold UK£86k worth of stock On the 14th of June, Michael Gant exercised 269.64k options at around UK£0.01, then sold 130k of the shares acquired at an average of UK£0.67 per share and kept the remainder. As of today, Michael currently holds no shares directly. Company insiders have collectively bought UK£365k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Jun 03
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: UK£280k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Significant insider selling over the past 3 months (UK£280k sold). Announcement • Apr 27
Brickability Group plc Provides Earnings Guidance for the Financial Year Ended 31 March 2024 Brickability Group plc provided earnings guidance for the financial year ended 31 March 2024. Group revenue for the full year is expected to be approximately £594 million, a decrease of c.13% over the prior year (year 2023: £681 million) or c.18% lower on a like-for-like ("LFL") basis. Recent Insider Transactions • Mar 08
Chairman of the Board recently bought UK£66k worth of stock On the 6th of March, John Richards bought around 100k shares on-market at roughly UK£0.66 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth UK£375k. This was John's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 03
Founder recently bought UK£375k worth of stock On the 27th of February, Alan Simpson bought around 554k shares on-market at roughly UK£0.68 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Alan has been a buyer over the last 12 months, purchasing a net total of UK£469k worth in shares. Major Estimate Revision • Feb 28
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£639.0m to UK£615.2m. EPS estimate also fell from UK£0.047 per share to UK£0.038 per share. Net income forecast to shrink 42% next year vs 0.9% decline forecast for Basic Materials industry in the United Kingdom. Consensus price target of UK£0.90 unchanged from last update. Share price fell 12% to UK£0.67 over the past week. Recent Insider Transactions Derivative • Feb 04
Insider exercised options and sold UK£213k worth of stock On the 31st of January, Andy Wilson exercised 326k options at a strike price of around UK£0.01 and sold these shares for an average price of UK£0.66 per share. This trade did not impact their existing holding. As of today, Andy currently holds no shares directly. Company insiders have collectively sold UK£89k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jan 30
Founder recently bought UK£93k worth of stock On the 26th of January, Alan Simpson bought around 150k shares on-market at roughly UK£0.62 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Alan's only on-market trade for the last 12 months. Announcement • Jan 22
Brickability Group Plc (AIM:BRCK) acquired Topek Southern Limited for £48million. Brickability Group Plc (AIM:BRCK) acquired Topek Southern Limited for £48million on January 22, 2024. an initial cash consideration of £17.3million payable on completion, subject to final working capital adjustments to acquire the business on a cash-free, debt-free basis. a further £10.0million satisfied through the issue of 17,094,017 new ordinary shares of in the capital of the Company at an effective issue price of 58.5 pence per ordinary share, and up to £20.7million of deferred contingent consideration that, subject to adjustments, is payable for performance against target performance criteria over the next three years. The initial cash consideration for the Acquisition will be financed through the Group's existing cash resources. The Consideration Shares will be subject to a 24-month hard lock-in, subject to customary carve-outs, followed by a 12-month orderly market arrangement. The Consideration Shares represent approximately 5.7 per cent. of the existing share capital. Ben Jeynes from Cavendish Capital Markets Limited act as financial advisor for Brickability Group Plc.Brickability Group Plc (AIM:BRCK) completed the acquisition of Topek Southern Limited for £48million on January 22, 2024. New Risk • Jan 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (5.9% increase in shares outstanding). Upcoming Dividend • Jan 18
Upcoming dividend of UK£0.011 per share at 6.0% yield Eligible shareholders must have bought the stock before 25 January 2024. Payment date: 22 February 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of British dividend payers (6.0%). Higher than average of industry peers (4.7%). Reported Earnings • Nov 30
First half 2024 earnings released: EPS: UK£0.038 (vs UK£0.037 in 1H 2023) First half 2024 results: EPS: UK£0.038 (up from UK£0.037 in 1H 2023). Revenue: UK£324.8m (down 7.9% from 1H 2023). Net income: UK£11.3m (up 1.5% from 1H 2023). Profit margin: 3.5% (up from 3.2% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Basic Materials industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Nov 29
Brickability Group plc Recommends Interim Dividend, Payable on 22 February 2024 Brickability Group Plc recommended an interim dividend of 1.07 pence per share (2023: 1.01 pence), payable on 22 February 2024, reflecting the performance of the business in the half year and the Board's confidence in the longer-term outlook for the Group. The ex-dividend date is 25 January 2024 with an associated record date of 26 January 2024. Announcement • Nov 21
Brickability Group Plc to Report Q2, 2024 Results on Nov 28, 2023 Brickability Group Plc announced that they will report Q2, 2024 results at 7:00 AM, Coordinated Universal Time on Nov 28, 2023 Announcement • Oct 12
Brickability Group Plc (AIM:BRCK) acquired Group Topek Holdings Limited for £45 million. Brickability Group Plc (AIM:BRCK) acquired Group Topek Holdings Limited for £45 million on October 11, 2023. The consideration payable for the Acquisition comprises an initial cash consideration of £27.3 million payable on completion, subject to final working capital adjustments to acquire the business on a cash-free, debt-free basis, and deferred contingent consideration of up to £17.7 million. The deferred contingent consideration is payable subject to adjustments for performance against target performance criteria over the next three years. The Acquisition consideration is being funded from the Group's existing cash resources and from newly amended and restated bank facilities which now mature in October 2026.In the 12 months to 31 August 2023, Topek generated unaudited revenue of £21.2 million and adjusted EBITDA of £8.0 million. Cavendish Securities plc acted as the financial advisor to Brickability Group Plc (AIM:BRCK) in the transaction.Brickability Group Plc (AIM:BRCK) completed the acquisition of Group Topek Holdings Limited on October 11, 2023. New Risk • Oct 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 33% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 33% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Oct 11
Brickability Group plc Provides Revenue Guidance for H1 FY24 Brickability Group Plc provided revenue guidance for H1 FY24. For the period, the company expects revenue to be approximately £324 million (H1 FY23: £352.7 million). Upcoming Dividend • Aug 17
Upcoming dividend of UK£0.021 per share at 5.9% yield Eligible shareholders must have bought the stock before 24 August 2023. Payment date: 21 September 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of British dividend payers (6.1%). Higher than average of industry peers (2.6%). New Risk • Jul 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jul 17
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: UK£0.093 (up from UK£0.044 in FY 2022). Revenue: UK£681.1m (up 31% from FY 2022). Net income: UK£27.7m (up 124% from FY 2022). Profit margin: 4.1% (up from 2.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 36%. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Basic Materials industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jul 17
Brickability Group Plc, Annual General Meeting, Sep 05, 2023 Brickability Group Plc, Annual General Meeting, Sep 05, 2023. Announcement • Jul 12
Brickability Group Plc to Report Fiscal Year 2023 Results on Jul 17, 2023 Brickability Group Plc announced that they will report fiscal year 2023 results at 6:00 AM, Coordinated Universal Time on Jul 17, 2023 Board Change • Apr 13
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Sharon Collins was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Feb 16
Price target decreased by 14% to UK£1.05 Down from UK£1.22, the current price target is an average from 2 analysts. New target price is 44% above last closing price of UK£0.73. Stock is down 27% over the past year. The company is forecast to post earnings per share of UK£0.058 for next year compared to UK£0.044 last year. Upcoming Dividend • Jan 19
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 26 January 2023. Payment date: 23 February 2023. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (5.4%). Higher than average of industry peers (3.0%). Recent Insider Transactions • Dec 20
Group COO recently bought UK£133k worth of stock On the 14th of December, Paul Hamilton bought around 200k shares on-market at roughly UK£0.67 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Paul has been a buyer over the last 12 months, purchasing a net total of UK£200k worth in shares. Reported Earnings • Nov 29
First half 2023 earnings released: EPS: UK£0.039 (vs UK£0.02 in 1H 2022) First half 2023 results: EPS: UK£0.039 (up from UK£0.02 in 1H 2022). Revenue: UK£352.7m (up 58% from 1H 2022). Net income: UK£11.7m (up 126% from 1H 2022). Profit margin: 3.3% (up from 2.3% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Basic Materials industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 21
Price target decreased to UK£1.14 Down from UK£1.26, the current price target is an average from 2 analysts. New target price is 53% above last closing price of UK£0.74. Stock is down 32% over the past year. The company is forecast to post earnings per share of UK£0.079 for next year compared to UK£0.044 last year. Price Target Changed • Sep 06
Price target decreased to UK£1.22 Down from UK£1.33, the current price target is an average from 2 analysts. New target price is 47% above last closing price of UK£0.83. Stock is down 21% over the past year. The company is forecast to post earnings per share of UK£0.076 for next year compared to UK£0.044 last year. Upcoming Dividend • Aug 18
Upcoming dividend of UK£0.02 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 22 September 2022. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of British dividend payers (5.2%). Higher than average of industry peers (3.3%). Reported Earnings • Jul 22
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: UK£0.044 (up from UK£0.042 in FY 2021). Revenue: UK£520.2m (up 187% from FY 2021). Net income: UK£12.4m (up 28% from FY 2021). Profit margin: 2.4% (down from 5.3% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 14%, compared to a 3.3% growth forecast for the industry in the United Kingdom. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Giles Beale was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Jan 21
Consensus revenue estimates increase by 19% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from UK£394.0m to UK£470.0m. EPS estimate increased from UK£0.05 to UK£0.06 per share. Net income forecast to grow 55% next year vs 28% growth forecast for Basic Materials industry in the United Kingdom. Consensus price target up from UK£1.28 to UK£1.31. Share price was steady at UK£0.98 over the past week. Major Estimate Revision • Dec 08
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from UK£0.047 to UK£0.052. Revenue forecast steady at UK£394.0m. Net income forecast to grow 47% next year vs 29% growth forecast for Basic Materials industry in the United Kingdom. Consensus price target of UK£1.28 unchanged from last update. Share price was steady at UK£1.04 over the past week. Reported Earnings • Dec 02
First half 2022 earnings: EPS exceeds analyst expectations First half 2022 results: EPS: UK£0.03 (up from UK£0.019 in 1H 2021). Revenue: UK£223.5m (up 197% from 1H 2021). Net income: UK£7.96m (up 83% from 1H 2021). Profit margin: 3.6% (down from 5.8% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.5%. Earnings per share (EPS) surpassed analyst estimates by 4.5%. Over the next year, revenue is forecast to grow 39%, compared to a 20% growth forecast for the industry in the United Kingdom. Upcoming Dividend • Aug 19
Upcoming dividend of UK£0.011 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 23 September 2021. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (3.8%). In line with average of industry peers (2.0%). Reported Earnings • Aug 06
Full year 2021 earnings released: EPS UK£0.042 (vs UK£0.048 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: UK£181.1m (down 3.2% from FY 2020). Net income: UK£9.67m (up 4.0% from FY 2020). Profit margin: 5.3% (up from 5.0% in FY 2020). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 15% share price gain to UK£1.03, the stock trades at a trailing P/E ratio of 27.5x. Average forward P/E is 16x in the Basic Materials industry in the United Kingdom. Total returns to shareholders of 138% over the past year. Recent Insider Transactions • Jul 02
Key Executive recently sold UK£16m worth of stock On the 30th of June, Alan Simpson sold around 17m shares on-market at roughly UK£0.95 per share. This was the largest sale by an insider in the last 3 months. This was Alan's only on-market trade for the last 12 months.