Revenues are up and profits are down at Ibstock, the manufacturer of building products, according to results for the six months ended 30 June.
Group revenues increased by 9% to £193m, driven by significant volume growth in Clay, where revenue grew by 12% to £134m. Revenue in Concrete was also marginally ahead of the prior year at £60m (2024: £59m).
Meanwhile, statutory profit before tax came in at £8m, dropping from £12m in the same period last year.
The business noted that the first half “reflected a period of strong volume growth, with profitability…tempered by steps to activate core network capacity to meet recovering demand.”
Joe Hudson, CEO, said: “The new-build residential market showed encouraging signs of recovery in the first half of the year, but activity is still well below normalised levels. As we plan for a period of further market growth, we have invested in restoring core capacity to meet demand. Whilst this has impacted margins in the first half, it will ensure we are able to benefit fully from the recovery as the market progresses.
“With both our core and diversified platforms now substantially in place to meet growing demand, I am confident in our ability to deliver on our medium-term revenue goals alongside improvements in profitability and returns driven by margin focus and significant operational leverage through the recovery cycle.”
