Ibstock Cuts Full-Year Adjusted EBITDA Outlook to Mid-£40 Million Range
Ibstock said third-quarter clay sales were 22% below expectations and it has cut production to manage inventories. Management said near-term demand remains under pressure.
Ibstock plc reported that trading conditions weakened sharply in the third quarter, with clay sales falling 22% below expectations. In response to the decline in demand, the company has implemented production cuts to manage inventory levels. Consequently, the company has reset its full-year adjusted EBITDA guidance to the mid-£40 million range. Management noted that near-term demand continues to face pressure as the market awaits the impact of a housing scheme scheduled for April 2027.