**Summary of Brickability Group PLC Interim Results for H1 FY26 (Six Months Ended 30 September 2025)**
**Financial Performance**
**Revenue Growth**Revenue increased by 4.9% to £347.0 million, driven by growth in three of the Groups four divisions (Bricks and Building Materials, Importing, and Distribution).
**Gross Profit**Gross profit rose by 2.2% to £64.4 million, with a slight margin decline to 18.6% due to product mix changes.
**Adjusted EBITDA**Adjusted EBITDA before SBP (Share-Based Payments) grew by 0.7% to £28.1 million, despite a £0.9 million SBP expense.
**Net Debt**Net debt increased to £66.8 million (from £56.3 million in H1 FY25), including £7.2 million in deferred acquisition payments.
**Dividend**Interim dividend maintained at 1.12p per share.
**Operational Highlights**
**Rebranding**The Group will rebrand to **BRCK Group PLC** in January 2026 to reflect its diversified product and service offerings.
**Divisional Performance**
**Bricks and Building Materials**Revenue up 5.9% to £230.4 million
Adjusted EBITDA up 7.1% to £12.0 million.
**Importing**Revenue up 6.3% to £28.6 million
Adjusted EBITDA up 14.3% to £3.2 million.
**Distribution**Revenue up 12.1% to £37.1 million
Adjusted EBITDA flat at £4.2 million.
**Contracting**Revenue down 4.9% to £50.9 million
Adjusted EBITDA down 9.8% to £11.9 million due to Building Safety Regulator (BSR) delays.
**Order Pipeline**Healthy order pipeline in the Contracting Division exceeding £150 million.
**Market Conditions and Outlook**
**Challenges**Persistent headwinds in the housebuilding and construction sectors, including subdued new build housing market and BSR delays.
**Medium-Term Outlook**Strong housing market fundamentals and structural housing deficit remain positive long-term drivers.
**Full-Year Expectations**The Board remains confident in achieving market expectations for FY26 (revenue of £650 million and Adjusted EBITDA before SBP of £52.25 million).
**Strategic Initiatives**
**Investment in IT and Processes**Continued investment in IT system upgrades and process efficiencies.
**Acquisitions**Acquisitions remain part of the growth strategy, though disciplined capital allocation is prioritized.
**Directorate Change**
David Simpson stepped down as Non-Executive Director on 31 December 2025, with Katie Long succeeding him as Chair of the Audit & Risk Committee.
**CEO Commentary**
Frank Hanna, CEO, highlighted the Groups resilience in delivering robust results despite market challenges. He emphasized the diversified business model, strong forward order book, and confidence in meeting full-year expectations.
**Conclusion**
Brickability Group PLC demonstrated resilience in H1 FY26, achieving revenue growth and maintaining profitability despite sector headwinds. The rebranding to BRCK Group PLC underscores its diversification, while strategic investments and a strong order pipeline position the Group for continued growth.