‘Grinding it out’: Ibstock swings to loss and cuts dividend amid building slump Property One of the UK’s biggest brickmakers has bemoaned a ‘challenging’ housebuilding market as it slashed its dividend and swung to a loss. Leicestershire-based Ibstock, which is London’s second most shorted stock with a reported short interest of 12.9 per cent, posted a loss of £27m for the first six months of the year, down from [...]
Ibstock hikes brick production as UK construction market picks up Property Brick manufacturer Ibstock has reinstated production capacity at several factories, providing a boost to Britain’s building materials shortage. The move is a bet on the building market’s recovery, with higher production capacity ensuring the company is “well placed to benefit from the recovery as it gathers pace.” Ibstock, which holds a 40 per cent share of the [...]
Ibstock slashes dividends as profit tumbles Business Ibstock has slashed its annual dividend payout as profit and revenue fell amid “subdued market conditions.” The London-listed brickmaker reported a near third drop in pre-tax profit to £21m for the year ended 31 December. Ibstock said the figure reflected “lower trading performance” and the impact of a one-off £12m charge. Revenue declined 10 per [...]
Ibstock: Housebuilding is recovering, but rebuilding supply chains will take time October 17, 2024 Building supplies company Ibstock has said that it has seen early indications of a positive trend in the UK’s housing market, but a full recovery in end markets won’t happen soon. It said that it saw new-build residential activity improving, but that it “expect[s] this to take time to feed through into sustainably stronger demand [...]
Ibstock profit slashed as ‘exceptionally wet weather’ hits construction industry August 7, 2024 Sales and profit at building supplies company Ibstock has continued to fall as “exceptionally wet weather” badly affected the construction industry. The London-listed firm, which is headquartered in Leicestershire, saw its revenue drop 20 per cent to £178m in the first six months of 2024, down from £223m last year. Ibstock said this decrease was [...]
Cracks showing at Ibstock as profits collapse despite efforts to slash costs March 6, 2024 Last year saw Ibstock reduce headcount and close factories in an effort to reduce costs
Housebuilders lead the FTSE risers as no-deal Brexit risk fades December 5, 2018 Britain's largest housebuilders saw the value of their shares jump this afternoon as the prospect of a no-deal Brexit began to recede. Property heavyweights such as Berkeley Group, Persimmon and Redrow were among the top 10 FTSE risers today as a frantic 24 hours of political tussling in Westminster fuelled the possibility of a “softer” Brexit [...]