Brickmaker’s woes deepen the UK housebuilding gloom
In the meantime, though, here’s a thumping profits warning from Ibstock, the country’s biggest brickmaker, to spread a little more gloom.
Key points
- Industry data, said Ibstock, show UK brick market volumes down 17% year-on-year in July and August.
- A couple of the builders have results later this week, so can speak for themselves.
- Demand hit a brick wall in the summer, as the company could have put it.
Ibstock has issued a thumping profits warning, with sales 22% below expectations in the third quarter With John Healey’s Your First Home scheme on the way, is the mood improving in the housebuilding sector?
For the whole of the third quarter, it said, sales were 22% below expectations, forcing a one-fifth cut in its production volumes versus plans set out as recently as August.
How this summary was made: extractive summary — built from the sources' own reporting. It is drawn only from the reporting of the sources listed below — read the originals for full detail. How we summarize →
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