Firm’s boss says wet weather pushes recovery back into second half of this year
Profit at brickmaker Ibstock fell to just £1m last year as the firm booked more thsn £19m in exceptional charges, the firm said in annual results announced this morning
The said it took an exceptional charge of £19.5 which was related to a restructuring programme announced in late 2023 which it said related to the sale of its Forticrete roofing business, surplus land, site closure and decommissioning activities.
Income edged up 2% to £372m and in a statement the firm said: “After a strong start to the year, conditions became progressively more challenging. In the first and second quarter, the market was up 17% and 10% respectively. In the third quarter growth decelerated to 4% before an actual decline of 2% in the final quarter compared to the prior period.”
Chief executive Joe Hudon added that 2026 had begun slowly because of the impact of the wet weather in Januray and February with the firm now anticipating a recovery in the second half of this year.
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