Ibstock returns to profit as demand returns

Leicestershire brickmaker Ibstock has posted “robust’ full-year results for 2021 as the firm returned to profit.

The manufacturer recored a surplus of £65m last year, against a loss of £24m in 2020, while turnover rose to £409m from £316m the year before.

Ibstock said that trading in the early weeks of 2022 has started well, with a “positive demand outlook across end markets”.

Joe Hudson, chief executive officer of Ibstock, said: “Our 2021 results reflect both continued robust demand across our markets and strong operational execution. Despite market-wide challenges arising from cost inflation and supply chain pressure, we have delivered a result ahead of the Board’s expectations, and are well positioned for future growth.

“Whilst we remain mindful of the broader macroeconomic uncertainties, particularly in light of the tragic conflict in Ukraine, we have made a good start to 2022, with a strong demand backdrop. This positive momentum, along with additional brick capacity coming on stream during 2022, provides us with a strong platform to deliver significant further financial and strategic progress.”