Ibstock releases interim results for the six months ended 30 June 2016
Published: 08 August, 2016
Ibstock has published its results for the six months ending 30 June 2016. The business, which has operations in the United Kingdom and the United States, reports that group revenue has increased by 3.3% to £210m.
The company reports that the implications of the EU Referendum result are not yet clear and it is too early to gauge the impact this might have on Ibstock operations. The group has limited direct exposure to trade with the European Union and any impacts are likely to be largely indirect; reflecting potential changes to consumer confidence and any resulting impact on residential housing markets, if any.
Wayne Sheppard, chief executive of Ibstock, said: “I am pleased to report another robust profit and cash generation performance by Ibstock, combined with excellent progress with our major UK investment projects.
“The EU Referendum result has added uncertainty to our outlook but, in advance of the important Autumn period for new home sales, it remains too early to judge its full impact. It is reassuring however that, to date, current trading continues at normal seasonal levels. Contingency plans will enable us to balance production with sales volumes in the remainder of the year as necessary.”