I cannot recommend this Leyland Truguard Pliolite based masonry paint highly enough:
It fills in small surface cracks, keeps its colour and lasts several years in the wettest of weather conditions. It is available at Johnstone's Leyland Decorating Centres, see here:
Not only that, but I ordered some more yesterday afternoon from the Bristol (St Phillips) Decorating Centre and it was delivered free of charge this morning at 9am (Christmas Eve)!
The Most and Least Productive Hours of the Day
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