Ibstock posts 4% growth in 2017
Ibstock, a leading manufacturer of clay bricks and concrete products with operations in the United Kingdom and the United States, closed 2017 with 4% year-on-year growth in group revenue to reach £451.6 million (504.6 million euros).
Revenue from clay and concrete products in the UK, which represents approximately 80% of Group revenue, was up 5%. EBITDA grew by 7.1% year-on-year to £119.6 million (around 134 million euros). Higher sales were driven by growth in demand in the clay brick market in 2017.
Plant commissioning commenced at the Group’s new soft mud brick factory in Leicestershire, where output is set to grow steadily during 2018. The company’s existing annualised capacity will be increased by approximately 100 million bricks when the plant is fully commissioned towards the end of the year.
Revenue in the US was down 2% year-on-year (6% at constant exchange rates). Net debt declined compared to 2016 despite significant investment.
In the clay brick sector, Ibstock operates 19 manufacturing plants and a network of 23 quarries in the UK, most of which are located close to the manufacturing facilities. In the United States it operates through GlenGery with 10 manufacturing plants and 29 quarries.