Revenue and profits crumble at Ibstock

Revenue and profits at Leicestershire-based brickmaker Ibstock have plummeted on the back “subdued” market conditions, the company said this morning (March 5).

Ibstock reported a falls of 10% in revenues for 2024 to £366m, while profit before tax fell almost a third to £21m.

Profits were hit by an exceptional charge of £12m.

Despite this, Joe Hudson, chief executive oficer, remained upbeat.

He said: “We expect an improvement in market volumes in 2025, with momentum building through the year. Ibstock is well-positioned for a market recovery, and the fundamental drivers of demand in our markets remain firmly in place. We see a significant opportunity for a new era in housebuilding in the UK and with the investments we have made and our market leadership positions, the group remains well placed to support and benefit from this over the medium term.”