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Brickability has increased its pre-tax profit by 71.9%, according to an audited update.

The materials distributor, in its interim results for the six months to 30 September, reported pre-tax profit of 拢15.3m, up from the 拢8.9m restated for the same period last year.

The firm said demand remained strong for its products, which include bricks, timber, flooring and other materials.

It said: 鈥淲e continue to operate within a supportive government regulatory environment and continue to experience strong demand across the undersupplied construction and housebuilding sector.鈥�

Last year鈥檚 pre-tax profit figure was restated at 拢8.9m instead of 拢11.9m due to a treatment of a payment relating to the firm鈥檚 acquisition last year of 拢254m-turnover Taylor Maxwell.

The firm also increased its revenue 57.8% to 拢352.7m over the same period, boosted by the purchase of its rival.

Its 鈥榣ike-for-like鈥� revenue, which is based on sales and does not take into account acquisitions, also increased 9.3%.

It said the increase in revenue 鈥渓argely reflects the general increase in prices across the industry鈥� However it said that volatility in the timber market had seen a fall in prices, meaning its largest division - bricks and building materials- increased its like-for-like revenue by just 4.3% to 拢270m compared to 51.4% in its imported division.

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The firm鈥檚 gross profit margin percentage decreased from 17.4% to 15.6% due to Taylor Maxwell operating on lower margins than the original Brickability Group.

The firm says it is on course to meet its target of reaching earnings before interest, taxes, depreciation (EBITDA) of 拢44.5m for the full year, after posting 拢25.5m for the first six months.

Brickability made two further acquisitions in the year, buying Modular Clay Products for 拢4.75m in May and ET Clay Products for 拢11.6m in September.