UK
Ireland
Scotland
London
Construction News
06/03/2018
Ibstock Records 3.9% Rise In Revenue
Brick manufacturer Ibstock has announced a 3.9% rise in revenue in its results for the year ended 31 December 2017.
With revenue increasing from £434.7 million in 2016 to £451.6m in 2017, profit before tax also rose 24.7% from £78.8m to £88.3m.
The company also continues to invest in additional UK brick capacity to meet demand, with production underway at the company's new 100m capacity brick plant in Leicestershire. The facility will expand Ibstock's UK brick capacity by around 13% when in full production in 2019.
Chief Executive Officer, Wayne Sheppard, said: "During the summer months demand remained robust and new build products, such as bricks and roof tiles, moved onto waiting times.
"With demand exceeding supply during this period, some customers did not receive the volumes they wanted when they needed it. Consequently, I am very pleased that we still managed to record a small improvement in our overall Net Promoter Score this year.
"Due to high demand, brick imports increased strongly as the year progressed, reaching over 300 million bricks for the year across the UK market. UK manufacturers sold approximately 2 billion bricks, although circa 0.16 billion of this was supplied from existing stocks.
"In summary, the UK market consumed circa 2.4 billion bricks and UK manufacturers manufactured less than 1.9 billion, leaving a deficit of circa 0.5 billion bricks that was filled through manufacturer destocking and imports."
In addition, Ibstock announced Joe Hudson will success Mr Sheppard as CEO at an unspecified, date later in the year.
Mr Sheppard continued: "I am delighted that Joe Hudson joined Ibstock in early 2018 as CEO designate. Joe has very relevant experience in building materials, most recently with Lafarge Holcim where he was responsible for their UK cement, Bradstone paving and concrete block businesses.
"With experience of manufacturing with high capital cost plant and the sale of aesthetic masonry and commodity concrete building products, he is ideally experienced to be the next CEO of Ibstock plc."
(LM/JP)
With revenue increasing from £434.7 million in 2016 to £451.6m in 2017, profit before tax also rose 24.7% from £78.8m to £88.3m.
The company also continues to invest in additional UK brick capacity to meet demand, with production underway at the company's new 100m capacity brick plant in Leicestershire. The facility will expand Ibstock's UK brick capacity by around 13% when in full production in 2019.
Chief Executive Officer, Wayne Sheppard, said: "During the summer months demand remained robust and new build products, such as bricks and roof tiles, moved onto waiting times.
-- Advertisement --
"With demand exceeding supply during this period, some customers did not receive the volumes they wanted when they needed it. Consequently, I am very pleased that we still managed to record a small improvement in our overall Net Promoter Score this year.
"Due to high demand, brick imports increased strongly as the year progressed, reaching over 300 million bricks for the year across the UK market. UK manufacturers sold approximately 2 billion bricks, although circa 0.16 billion of this was supplied from existing stocks.
"In summary, the UK market consumed circa 2.4 billion bricks and UK manufacturers manufactured less than 1.9 billion, leaving a deficit of circa 0.5 billion bricks that was filled through manufacturer destocking and imports."
In addition, Ibstock announced Joe Hudson will success Mr Sheppard as CEO at an unspecified, date later in the year.
Mr Sheppard continued: "I am delighted that Joe Hudson joined Ibstock in early 2018 as CEO designate. Joe has very relevant experience in building materials, most recently with Lafarge Holcim where he was responsible for their UK cement, Bradstone paving and concrete block businesses.
"With experience of manufacturing with high capital cost plant and the sale of aesthetic masonry and commodity concrete building products, he is ideally experienced to be the next CEO of Ibstock plc."
(LM/JP)
Latest Construction News
05/02/2025
Stockport Mayoral Development Corporation (MDC) and ECF, a joint venture between Homes England, Legal & General, and Muse, have selected Vinci as the preferred contractor for Phase 1 of Stockport 8, a £350 million residential development west of Stockport town centre.
The decision follows a competi
05/02/2025
Vistry Group has finalised contracts for a significant housing development in Hinckley, Leicestershire, securing outline planning permission to deliver 475 new homes in the area.
The development, located east of Stoke Road and north of Normandy Way in the town's northern region, has a projected val
05/02/2025
Wilten Construction has been awarded a second Design and Build contract at Gateway 14 by client Gateway 14 Ltd and Jaynic.
The project involves the development of a state-of-the-art, three-storey Skills and Innovation Centre spanning 35,000 sq ft in the heart of Gateway 14. Designed to achieve BREE
05/02/2025
Knowsley Council has approved a major housing development in Kirkby, giving the green light to 800 new energy-efficient homes in the town's centre.
The decision also secures £7.7 million in Section 106 contributions from developer Barratt David Wilson Homes, further boosting local investment.
The
05/02/2025
Keepmoat Homes has announced plans to invest over £50 million in three new housing developments across Calderdale, aiming to deliver more than 200 new homes.
The developments, undertaken in partnership with Calderdale Council, form part of the North Halifax Transformation Programme, a local authori
05/02/2025
Essential renewal work at Skerne Road level crossing in Driffield has been completed. Over a six-day period, engineers replaced decades-old equipment, installing a state-of-the-art operating system, replacing the level crossing deck, and resurfacing the road.
The newly installed operating system is
05/02/2025
Construction firm GRAHAM is currently carrying out essential restoration work at the National Railway Museum in York, replacing the Grade II listed roof structure at Station Hall.
Originally built between 1875 and 1877 as a goods station, Station Hall now houses the museum’s six royal carriages.
05/02/2025
Mezzanine floors are commonly associated with additional storage or expanded floor space, but did you know they can also have a profound impact on employee productivity and morale? At Doity Engineering, we specialise in designing and installing mezzanine floors for
05/02/2025
Construction work is commencing on a new solar array at Weeton Barracks in Lancashire that will generate over one third of the site’s energy needs.
The work has been funded under the British Army’s Project Prometheus, a scheme that is increasing renewable energy across the army estate through inst
05/02/2025
The regeneration of Hartlepool's waterfront has reached a significant milestone with a £631,000 grant from The National Lottery Heritage Fund.
The funding will support the development phase of the 'Tides of Change' project, aimed at transforming the visitor experience at the Museum of Hartlepool a
