Interim Results for the Six Months Ended 30 September 2023

• Revenue of £324.8m, a decrease of 7.9% compared to H1 FY23 (H1 FY23: £352.7m) and a 14.4% reduction on a like-for-like⁽¹⁾ basis
• Gross profit of £55.0m (H1 FY23: £54.9m)
• Increased gross profit margin of 16.9% (H1 FY23: 15.6%)
• Adjusted EBITDA⁽²⁾ increased slightly to £25.6m (H1 FY23: £25.5m⁽³⁾
• Adjusted Profit before tax⁽⁴⁾ decreased by 2.7% to £21.8m (H1 FY23: £22.4m⁽³⁾
• Statutory Profit before tax increased by 8.8% to £16.0m (H1 FY23: £14.7m⁽³⁾)
• Statutory EPS increased by 1.1% to 3.78p (H1 FY23: 3.74p)
• Adjusted EPS⁽⁵⁾ decreased by 11.7% to 5.30p (H1 FY23: 6.00p)
• Net debt⁽⁶⁾ as at 30 September 2023 of £30.9m (H1 FY23: £27.4m)
• Increased Interim dividend of 1.07 pence per share (H1 FY23: 1.01 pence)

• Resilient performance across the Group in the first half of FY23, despite macroeconomic and geopolitical backdrop.
• Particularly strong performance in the Contracting and Distribution divisions, highlighting the benefit of the Group’s diversification strategy.

• Strategic acquisition announced in October of Group Topek Holdings Limited (“Topek”) which means the Group now has a full range of cladding capabilities, as well as significantly increasing the Group’s presence in the cladding remediation market.
• Borrowing facility increased to an initial £100m, from £60m, providing the Group with additional liquidity headroom to fund the Group’s working capital requirements and potential further acquisitions.
• Proportion of brick revenues now reduced to c.50% of Group revenues as the Company’s strategic focus on diversification continues to yield substantial benefits.
• As previously announced by the Company on 11 October 2023, the Board expects that forecast reductions in newbuild volumes will have a corresponding impact upon the performance of the Group’s existing businesses throughout the second half of the current financial year.
• The acquisition pipeline continues to be exciting, and targeted growth against our robust acquisition criteria will continue.
• The Board remains confident in the Group’s ability to continue to deliver on its strategic objectives.
• Increased interim dividend reflects the performance of the business in the half year and the Board’s confidence in the longer-term outlook for the Group.

⁽¹⁾like-for-like (“LFL”) revenue is a measure of performance, adjusted for the impact of acquisitions.

⁽²⁾Earnings before interest, tax, depreciation, amortisation and other non-underlying items (See Financial Review
and note 5).

⁽³⁾Re-stated (see note 8 in the interim statement)

⁽⁴⁾Statutory profit before tax excluding non-underlying items (see note 5).

⁽⁵⁾Adjusted profit after tax (statutory profit after tax before non-underlying items) divided by the weighted
average number of shares in the year.

⁽⁶⁾Bank borrowings less cash.