Firm says trading has been improving since second half of last year
Revenue at brickmaker Ibstock fell 10% last year, the firm said in annual results announced this morning.
Income slipped to £366m with pre-tax profit also down, by 30% to £21m.
The firm said it took an exceptional charge of £11.7m which was related to a restructuring programme announced in late 2023 which include a £5m hit relating to restructuring costs at its glass fibre reinforced concrete business which it has decided to pull put of in the wake of a £3m trading loss last year.
But Ibstock said it expected overall market conditions to get better this year. It added: “Trading in the early weeks of 2025 has been solid, with sales volumes, as anticipated, ahead of the comparative period.”
It added that a pick-up in demand had begun in the second half of last year with sales up 6% on the first half and 3% of the same period in 2023.
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