Ibstock dented by rising gas costs and bad weather

By Hamish Champ2018-08-09T06:55:00

Brickmaker buoyed by demand but warns high energy prices will continue into second half

Rising energy costs and the effects of the bad weather earlier this year dented brickmaker Ibstock’s first half earnings, the group reported today.

The firm’s adjusted Ebitda dipped by 2.2% to £58.4m in the six months to the end of June on turnover of £229.2m, up 1%, while pre-tax profit was up 31% at £50.9m, boosted in part by the sale of a former quarry in Bristol.

Higher gas costs hit Ebitda, with increases in the mid-teen percentages, and the group said the rising price environment was likely to continue into the second half.

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