Ibstock brickmaker reports 22% sales drop, cuts output by a fifth
The Guardian reported that Ibstock, the UK’s largest brickmaker, said sales fell 22% below its expectations in the quarter to the end of September.
The Guardian reported that Ibstock, the UK’s largest brickmaker, said sales fell 22% below its expectations in the quarter to the end of September. The slump, which the company described as a plunge of more than a fifth over the summer, led it to cut production by a fifth.
Ibstock blamed the decline on a slowdown in housebuilding and criticised the government for not introducing fresh support for the housing sector more quickly. The company’s decision to reduce output reflects the pressure on suppliers as the market for new homes weakens.
Why it matters
The drop highlights the depth of the housing‑sector slowdown and its ripple effect on construction supply chains.
Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- UK, Sales, Leicestershire-based Ibstock
- Section
- Business
- Figure cited
- Leicestershire-based Ibstock said on Monday that sales slumped by 22% below its expectations in the quarter to the end of September, prompting it to slash production levels by a fifth. (The Guardian)
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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