In a trading update ahead of its 2016 annual results, Ibstock said that 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.
Revenue in the US, however, was up 18% (4% at constant exchange rates) for the full year compared to 2015, reflecting a combination of higher average prices and a more favourable product mix.
Construction of an additional clay brick factory in Leicestershire, which will expand Ibstock's UK clay brick capacity by 13%, is making good progress and will commission in the second half of 2017, the board said.
Installation of a new concrete roof tile line at the Leighton Buzzard facility was completed within budget and commissioning began in August 2016, adding 5% to UK concrete roof tile market capacity. First projects using the new tiles have been completed and been well received by key customers, the company said.
Ibstock preliminary results for the year ended 31st December 2016 on 7th March 2017.
Got a story? Email news@theconstructionindex.co.uk
