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Trading statements

Ibstock on course

16 January 2017 07:48

Ibstock - a leading manufacturer of clay bricks and concrete products - says group the continues to trade as anticipated with adjusted EBITDA in line with expectations.

Group revenue for the year ended 31 December was up 5%.

Revenue from clay and concrete products in the UK, which represents approximately 80% of group revenue, was up 2% for the full year compared to 2015.

The increase in revenue in 2016 reflects low single digit volume growth for clay brick and further volume and price growth in the concrete businesses.

Despite the release of brick inventory by distributors as previously reported, particularly in the first half of the year, brick sales volumes for the full year exceeded 2015.

Growing house builder activity supported a stronger second half and national brick imports declined significantly over the year. Revenue in the US was up 18% (4% at constant exchange rates) for the full year compared to 2015, principally reflecting a combination of higher average prices and the benefits from a more favourable product and end use sector mix.

Story provided by StockMarketWire.com

Related Company: IBST

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