Leicestershire brickmaker sees profits boost after sale of US business

Property sales and the disposal of its US operation have boosted the bottom line at Leicestershire brickmaker Inbstock.

The firm has posted profits of £92.5m for 2018, up nearly 20% on 2017. Revenues have also increased by almost 8% to £391.4m.

The news comes in the year that Ibstock sold its US business Glen-Gerry for £76m to concentrate on its UK operations.

Meanwhile, the firm’s new Eclipse factory in Leicestershire is said to be “performing well”.

Joe Hudson, chief executive, said: “2018 was a busy year of development for Ibstock, and we are pleased to be announcing profit growth and cash generation in line with management’s expectations.

“Whilst we remain mindful of the current political and economic uncertainties in the UK, Ibstock is well-positioned, with market fundamentals that remain encouraging for the medium term. We look forward to another year of progress for the Group.”

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