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? A couple of the builders have results later this week, so can speak for themselves.
Also readGreenpeace activists create ‘boulder barrier’ in North Sea to deter industrial fishing
In the meantime, though, here’s a thumping profits warning from Ibstock, the country’s biggest brickmaker, to spread a little more gloom. Demand hit a brick wall in the summer, as the company could have put it. Industry data, said Ibstock , show UK brick market volumes down 17% year-on-year in July and August.
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. Continue reading...
Also readUnions gain access to thousands of Google workers after UK employment rights overhaul
