Ibstock PLC AGM Trading Update (0183G)
May 24 2017 - 2:00AM
UK Regulatory
TIDMIBST
RNS Number : 0183G
Ibstock PLC
24 May 2017
24(th) May 2017
Ibstock plc
AGM Trading Update
Ibstock plc ('Ibstock' or the 'Group'), a leading manufacturer
of clay bricks and concrete products with operations in the United
Kingdom and the United States, today provides a Trading Update for
the four months ended 30 April 2017 ahead of its Annual General
Meeting, which is to be held at 2:00 pm today at the offices of
Citigate Dewe Rogerson, 3 London Wall Buildings, London Wall,
London EC2M 5SY.
Trading Summary
The Group has shown encouraging trading momentum in the first
four months of 2017.
Our UK brick sales have continued to progress in the first four
months of 2017 principally reflecting good volume growth into the
new build residential housing market and a return to normal levels
of sales through Builders Merchants. Price increases by sales
channel have been achieved in line with expectations with average
pricing year to date reflecting the increased new housing
volumes.
The UK concrete businesses have achieved a good start to the
year, whilst in the US an unusually mild winter boosted sales in
the early months of the year however activity in March and April
has fallen back to more traditional seasonal levels.
We continue to progress our organic growth investment projects
with the commissioning of our new 100 million brick per annum soft
mud factory in Leicestershire anticipated to commence in the fourth
quarter of 2017. Forticrete's new concrete roof tile manufacturing
line is now in production and the new innovative roof tiles have
been well received by the market. The new kiln project at Lodge
Lane is also progressing to plan.
Outlook
Market fundamentals in UK remain robust with the demand for new
housing in particular continuing to underpin activity levels in
both our clay and concrete businesses. At this early stage in the
US building season we anticipate a steady performance in our US
business.
The Board expects another year of progress for the Group and its
expectations for the full year remain unchanged.
The Group's results for the six months to 30 June 2017 will be
announced on 10 August 2017.
Enquiries
Ibstock (enquiries via Citigate Dewe Rogerson)
Wayne Sheppard (CEO)
Kevin Sims (CFO)
Citigate Dewe Rogerson 020 7638 9571
Kevin Smith
Nick Hayns
Note to the Editor:
Ibstock plc is a leading manufacturer of clay bricks with a
diversified range of clay and concrete products, and operations in
the United Kingdom and the United States. Its principal products
are clay bricks, brick components, concrete roof tiles, concrete
substitutes for stone masonry, concrete fencing and concrete rail
products.
The Group's four primary businesses are:
-- UK business:
o Ibstock Brick: The leading manufacturer by volume
of clay bricks sold in the United Kingdom. With
19 manufacturing plants Ibstock Brick has the
largest brick production capacity in the United
Kingdom(1) . It operates a network of 23 active
quarries which are generally located close to
its manufacturing plants. Ibstock Brick has commenced
construction of a new soft mud manufacturing
plant in Leicestershire that is expected to add
approximately 100 million bricks (c13%) to its
brick production capacity per annum. The new
plant is expected to commence commissioning in
the fourth quarter of 2017.
o Supreme: A leading manufacturer of concrete fencing
products and concrete lintels and general concrete
building products, with seven manufacturing plants
in the United Kingdom.
o Forticrete: A leading manufacturer of concrete
substitutes for natural stone walling and dressings
and niche concrete roof tiles, with seven manufacturing
plants in the United Kingdom. Forticrete has
a new and innovative concrete roof tile manufacturing
line at its Leighton Buzzard facility which started
commissioning in the fourth quarter of 2016.
-- US business:
o Glen-Gery: A leading manufacturer of bricks by
volume of despatches in the Northeast and Midwest
regions of the United States, with a network
of ten manufacturing plants and 29 active quarries,
covered by 20 active quarry permits.
([1]) 2016, Excluding imports
This information is provided by RNS
The company news service from the London Stock Exchange
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