Cheap as bricks (Updated)
With new housebuilding lagging even further behind government targets, this business supplying into major housebuilders still remains well placed to benefit as the UK gets back to work. The shares certainly look good value on several levels as our updated note here reveals.
BackgroundEstablished in 1984, Brickability Group (LON:BRCK) distributes and installs quality building materials from major UK and European manufacturing partners.It operates around three core product areas: Bricks and Building Materials Heating, Plumbing and Joinery. Roofing Products and ServicesGroup revenue ror the year ending March 2019 was £163m DivisionsBrick and Building Materials Division Revenue March 2020 year: £143.9m - 77% of group turnover, 54% of EBITDA The Brick Division is the fastest growing of three leading national specialist suppliers of facing bricks and related products to the UK market, with a market share of c.12%, supplying over 300m bricks annually through 25 sites…