Monday, June 1, 2020

Leicestershire brick maker ‘well positioned’ despite uncertainty

Leicestershire-based brick marker Ibstock is trading “as anticipated” as the company releases an update for the year ended 31 December 2018.

According to a trading update released this week, adjusted EBITDA for the year is “expected to be in line with expectations”.

The company added that the treading results of Glen-Gery – its US brick manufacturing operation it disposed of in November 2018 – will be excluded from adjusted EBITDA.

Revenues from its UK clay and concrete products were up 8% for the full year compared to 2017 – reflecting both price and volume growth, primarily in our clay brick business.

Ibstock said it expects to “report low single digit growth in adjusted EBITDA for the UK business, which is in line with expectations”.

The enhanced maintenance programme in the Group’s UK brick business continues to “progress well”.

It also expects to report £9.5 million of profit on disposal of surplus property during the year – also excluded from adjusted EBITDA.

A statement from the board said: “Despite ongoing political and economic uncertainty, we enter 2019 well positioned and with a strong balance sheet. We continue to assess investment options in the UK as we look to deliver long term growth.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Virtual business scene – RSViP event: ‘success in adaptation – stories shared’

Last week RSViP, the business networking agency, invited six of its own members from various industries to share their stories of adaptation since lock-down. Hosted...

Adzooma launches new marketplace platform

International online software provider, Adzooma, has launched a brand-new digital platform called Adzooma Marketplace, which brings together businesses and marketing agencies - across all...

Fashion logistics business swoops for 186,000 sq ft unit at Magna Park Lutterworth

Gazeley, the investor and developer of logistics warehouses and distribution parks, has leased a 186,000 sq ft unit at its Magna Park Lutterworth site...

Breedon appoints first Group Head of Sustainability

Breedon Group plc, the Leicestershire-based construction materials group, has appointed Donna Hunt as its first Group Head of Sustainability. Donna brings over 20 years’ knowledge...

Toyota Engineer takes on a mountain challenge in support of local hospice

A Principal Engineer at Toyota Motor Manufacturing, took on the challenge of a lifetime, to support Rainbows Hospice for Children and Young People. Ian Clemson,...

Related news

Ilkeston Heritage and Classic Vehicle Show cancelled due to pandemic

This year's Ilkeston Heritage and Classic Vehicle Show has been cancelled because of the Government restrictions dealing with the Covid-19 pandemic. Organisers Erewash Partnership Events,...

Virtual business scene – RSViP event: ‘success in adaptation – stories shared’

Last week RSViP, the business networking agency, invited six of its own members from various industries to share their stories of adaptation since lock-down. Hosted...

Adzooma launches new marketplace platform

International online software provider, Adzooma, has launched a brand-new digital platform called Adzooma Marketplace, which brings together businesses and marketing agencies - across all...

Fashion logistics business swoops for 186,000 sq ft unit at Magna Park Lutterworth

Gazeley, the investor and developer of logistics warehouses and distribution parks, has leased a 186,000 sq ft unit at its Magna Park Lutterworth site...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close