Leicestershire brick manufacturer builds on profits
Ibstock, the Leicestershire brick manufacturer, has posted “robust” results for the six months ended 30 June.
Group revenue over the period was £210m, up from £148.9m in 2015, whilst profits were £37.9m, down from £77m last year, but those figures included net exceptional benefits of £51.8m.
There will be an interim dividend share pay out of 2.4p, the company has said.
Wayne Sheppard, CEO of Ibstock plc, said: “I am pleased to report another robust profit and cash generation performance by Ibstock, combined with excellent progress with our major UK investment projects.”
“The EU Referendum result has added uncertainty to our outlook but, in advance of the important autumn period for new home sales, it remains too early to judge its full impact. It is reassuring however that, to date, current trading continues at normal seasonal levels. Contingency plans will enable us to balance production with sales volumes in the remainder of the year as necessary.”
“The fundamentals supporting the UK housing market remain in place. The sector continues to receive focused government support, mortgage availability is good and there remains an undersupply of new homes. Our businesses are well prepared for the challenges and opportunities that our markets may present and we look to the future with confidence.”
