Ibstock boosts profit as inflation forces price hikes

By Carl Brown2022-07-27T09:25:00

Brick manufacturer increases pre-tax profit for the first half of the year by 32%

Brick manufacturer Ibstock has reported a 32% increase in pre-tax profit in the first half of the year, as it increased selling prices to offset cost inflation.

The firm, based in Leicestershire, reported pre-tax profit of £51m for the six months to 30 June, up from £39m the same period in 2021. It also increased its turnover 28%, from £202m to £259m over the same period.

Ibstock said it has seen “significant variable cost inflation” particularly in energy, materials and freight but has been able to fully recover the extra cost through increases in selling prices for its products.

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