Ibstock has reported pre-tax benefit down 30% for the yr ended 31st December 2024 to £20.7m (2023: £30.1m) on income down 10% at £366m (£406m).
Gross sales picked up in the second one part of the yr, on the other hand, and the corporate says that it’s ‘well-placed for marketplace restoration’.
In truth, buying and selling within the early weeks of 2025 yr has been ‘forged’, it mentioned, with gross sales volumes at the up.
Leader government Joe Hudson mentioned: “Our endured focal point at the lively control of capability and margin ensured we delivered a resilient efficiency in 2024. As anticipated, we noticed a modern development in gross sales volumes thru the second one part with call for supported by way of our main provider and provide proposition. The efficient control of pricing and volumes all over the yr underpinned resilient margins blended with marketplace proportion good points in the course of the latter a part of the 2024 yr.
“In contrast backdrop, I’m additionally happy to record sturdy growth towards all components of the crowd’s technique with cheaper price, extra environment friendly and sustainable capability in position to beef up marketplace restoration, and endured growth against our bold sustainability objectives.
“We predict an development in marketplace volumes in 2025, with momentum development in the course of the yr. Ibstock is well-positioned for a marketplace restoration, and the basic drivers of call for in our markets stay firmly in position. We see a vital alternative for a brand new generation in housebuilding in the United Kingdom and with the investments we have now made and our marketplace management positions, the crowd stays nicely positioned to beef up and get pleasure from this over the medium time period.”
Revenues within the core Clay department lowered by way of 15% to £249m (2023: £292m) despite the fact that the entire UK clay brick marketplace in 2024 was once secure at 1.7bn gadgets (even if nonetheless greater than 30% under the two.5bn general marketplace in 2022). On the other hand, Ibstock’s marketplace proportion advanced against the top of the yr, finishing on the subject of its 2023 degree.
Ibstock Concrete generated income of £117m (2023: £114m), aided by way of the purchase of floor specialist Coltman Precast. On a like-for-like foundation, the Concrete department was once down 7%.
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