The UK’s largest brickmaker reports a sharp decline in summer sales, with figures falling well below expectations and prompting a significant reduction in production. The company attributes its struggles to delayed government support for the housing sector, which it says has failed to arrive quickly enough. With demand weakening and output cut by nearly a quarter, the sector’s challenges are laid bare as industry leaders call for urgent intervention. The latest figures highlight growing concerns over the health of the housing market and its supply chain.
Ibstock, which has cut production by a fifth, criticises government for delay in help for housing sectorSales at the UK’s largest brickmaker plunged by more than a fifth over the summer, as it criticised the government for not introducing fresh help for the housing sector faster.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. Continue reading...
