Chris McLeish leaving in October to take up new chief financial officer role with Hill and Smith plc IBSTOCK plc have announced that chief financial officer (CFO) Chris McLeish is to leave the Group to take up the position of CFO at Hill and Smith plc Mr McLeish has been with Ibstock since August 2019 and will leave the company in October 2025 I would like to express our sincere thanks for the outstanding contribution that Chris has made to our business over the course of the last six years and we wish him all the best for the future The search for Chris’ successor is under way and a further update will be provided when appropriate.’ jobs events and articles direct to your inbox Subscribe Here Agg-Net is the ‘go-to’ website for key decision makers within the aggregates and recycling industries market reports and industry features provide an independent and informed voice for the industry Agg-Net is the official digital partner for Hillhead providing unrivalled coverage of our June event 7 Regent StreetNottinghamNG1 5BSUnited KingdomTel: +44 (0)115 941 1315 Ibstock’s CFO Chris McLeish is to leave after six years to join fellow FTSE 250 company Hill & Smith He has been with the Leicestershire brick and building products manufacturer since August 2019 and will leave the group in early October McLeish has more than 30 years’ experience in international finance leadership roles He said: “I am very excited to be joining Hill & Smith at such an important time I look forward to working with Rutger and the leadership teams to deliver on the Company’s growth ambitions.” said: “We are excited to have found a great candidate who has the experience and skills to help deliver the next stage of the Hill & Smith growth strategy.” Hill & Smith’s group financial controller Mark Else will continue as interim CFO until McLeish joins Ibstock has now begun its search for a replacement said: “On behalf of the board I would like to express our sincere thanks for the outstanding contribution that Chris has made to our business over the course of the last six years and we wish him all the best for the future.” TRADING CONDITIONS improved in the first quarter of 2025 for Ibstock Plc compared to the same quarter last year The company attributes the improvement to increased demand in new build residential construction markets and a relatively weak comparative in 2024 Sales volumes and revenues across the core business were in line with the business’s expectations and well above the prior year Ibstock says it has seen a more competitive pricing environment in some areas of the market and continues to take a disciplined approach to pricing Price increases introduced towards the end of the first quarter are now coming through for the company as market recovery was more pronounced in new build residential markets Ibstock reports “selling prices in the period were adversely impacted by the sales mix” The company’s overall EBITDA margin percentage in Q1 was below the prior year reflecting the impact of cost inflation ahead of pricing actions taken sales mix and additional costs invested in its factory network “to support the significant unmet demand for new build housing in the UK” These investments include increases in production volumes at Atlas and the full automation of its brick slips factory at Nostell ‘Good progress’ is being made with Phase 2 at Nostell the construction of a larger ceramic facades systems factory said: “The Group has made a solid start to the year against a backdrop of improving market conditions Sales volumes in the core business were well ahead in the first quarter reflecting improved demand but also a relatively weak comparative in 2024 We continue to maintain both a tight focus on costs and our disciplined approach to pricing “We continue to expect trading momentum to build through the year and have made targeted investment in our network to ensure we can service our customers’ needs and having completed a programme of investment in our factory network over recent years we remain well-placed to respond to the significant unmet demand for new homes in the UK.” Ibstock’s quarterly trading update points to “broader macroeconomic uncertainties” but says its full year expectations are unchanged with performance weighted towards the second half of the year >> Read more about Ibstock in the news Issue 117 - March 2025 Sign up now to get news by email from Roofing Today Osma StormLine: Designed to weather the storm Unlocking roofing potential: Onduline & Northstone Partnership Traditional Roofing spring 2025 This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page \n To help personalise your experience with HL and show you relevant content and adverts \n By clicking "Accept All Cookies", you consent to our use of cookies. 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If you want to know more, read our cookie policy To make sure you get the most from our website \n These allow our website to work properly and gives us anonymous\n information about how the website is used.\n \n The website will remember you (for example for faster login) and help\n us understand how you use the site.\n \n You\'ll see tailored adverts you will still see\n adverts but they may not be relevant to your interests.\n \n Find out more about how we use cookies\n All investments can fall as well as rise in value so you could get back less than you invest 0%View factsheetSign up for email updatesPrices delayed by at least 15 minutesIbstock’s expecting its 2024 revenue to decline by 10% to around £365mn although there was a “progressive improvement” over the second half Net debt increased from £101mn to £122mn due to continued investment in increasing capacity Full-year underlying cash profit (EBITDA) is set to come in at around £79mn (2023: £107mn) in line with prior guidance but slightly below market expectations Despite planning and affordability pressures limiting near-term demand Ibstock’s expecting improved market conditions in 2025 In a short trading update ahead of full-year results Ibstock confirmed that 2024’s profits are set to fall around 26% But business conditions improved over the second half and the group’s optimistic that this momentum will continue throughout the new year Elevated mortgage rates are weighing on housing affordability causing housebuilders to be conservative about starting new projects That’s contributed to weak demand for Ibstock’s products and both volumes and prices are subdued as a result Brickmakers like Ibstock typically have high fixed costs as the kilns used to make the bricks require a lot of energy to heat up If enough revenue isn’t coming in the door there’s little wiggle room to cover the high fixed costs Cost cuts are continuing and so far this has been enough to keep margins broadly flat so the squeeze on margins will remain an issue to grapple with in the near term That’s a prudent move in our view and should provide more of a cushion to combat any further bumps in the road With major expansion projects now close to completion there should be lower demand for the group’s cash resources moving forward Ibstock has the largest brick-making capacity in the UK And upgrades to other sites should help lower production costs while also giving room to increase output when needed That means the group's arguably better placed to benefit from higher demand when it eventually arises there are signs of increased confidence and activity in the housebuilding market If expectations of further interest rate cuts through 2025 are met mortgage affordability should improve slightly and feed through to increased demand for Ibstock’s products In order to be ready for this potential uplift Ibstock’s carefully starting to bring more capacity online But it’s difficult to map how long it will be before housing market activity really ramps up and there’s a risk that cash resources and profit margins could get strained if it doesn’t jump back into life quickly enough Ibstock still has attractive long-term growth prospects and the outlook is much brighter than it has been for some time If earnings growth comes through as expected in the coming years investors could be rewarded for their patience at the current valuation But there’s no guarantee that construction activity will take off so investors should be prepared to stomach some volatility along the way The construction industry’s ESG risk edges towards the higher end of the spectrum Carbon management of company operations and the impact of its products and services is the most acute risk Ibstock’s management of ESG risk is strong There is a strong greenhouse gas emission reduction programme in place and carbon intensity has already declined moderately in recent years ESG-related issues are integrated into the core business strategy with management remuneration explicitly linked to sustainability performance targets overall ESG-related disclosures lag behind best practice Please remember yields are variable and not a reliable indicator of future income Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture so you could get back less than you put in We're here to help - call our helpdesk or send us a message. Contact us All rights reserved.Hargreaves Lansdown is a trading name of Hargreaves Lansdown Asset Management Limited a company registered in England and Wales with company number 01896481 and authorised and regulated by the Financial Conduct Authority Information about us can be found on the Financial Services Register (register number 115248).Registered Office: 1 College Square South Ibstock is quitting the Glass Fibre Reinforced Concrete (GRC) cladding market The materials giant confirmed it has ceased production of GRC after the division made a trading loss of £3m last year Ibstock said: “The GRC business recognised a trading loss of around £3 million in 2024 reflecting acute pressure on margins in the current market environment as well as losses from recent subcontractor failures “In light of its performance and near-term prospects the Group took the decision to cease production of GRC after discharging all existing commercial commitments which is expected to conclude during the first half of 2025.” The move resulted in a £5m one-off charge in the latest results for the year to December 31 2024 which showed pre-tax profit down to £21m from £30m last time on revenue of £366m from £406m The GRC facility was based in the West Midlands where it designed facades for mid and high-rise buildings in the residential and commercial sectors 0%View factsheetSign up for email updatesPrices delayed by at least 15 minutesIbstock’s first-quarter revenue and sales volumes were in line with group expectations increased demand in residential construction markets and a weak comparative period in 2024 Underlying cash profit (EBITDA) margin in the first quarter was below the prior year This was due to cost inflation running ahead of price increases Ibstock expects trading momentum to build throughout the year so performance is set to be weighted to the second half The shares were broadly flat in early trading with a rise in residential construction helping revenue to come in well ahead of the prior year with pricing action taken now set to feed into improving profitability as the year progresses It’s been a tough couple of years for the brickmaker Elevated mortgage rates have been weighing on housing affordability There are early signs that we’ve turned a corner now though with confidence and activity in the housebuilding market starting to pick back up Ibstock now has the largest brick-making capacity in the UK That means the group's arguably better placed to benefit from higher demand if it really ramps up again But it’s difficult to map how long it will be before housing returns to full flow With operations focused on this side of the Atlantic the group’s fairly insulated from the direct impact of tariffs But if tariffs lead to a global economic slowdown demand for Ibstock’s products would likely take a hit There’s also a risk that cash resources and profit margins could get strained if it doesn’t jump back into life quickly enough as the kilns used to make the bricks require a lot of energy to heat up All ratios are sourced from LSEG Datastream Welcome to building.co.uk. 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Read our policy A festival focused on the future of digital construction By 2025-03-05T08:32:00+00:00 Firm says trading has been improving since second half of last year Revenue at brickmaker Ibstock fell 10% last year the firm said in annual results announced this morning Income slipped to £366m with pre-tax profit also down The firm said it took an exceptional charge of £11.7m which was related to a restructuring programme announced in late 2023 which include a £5m hit relating to restructuring costs at its glass fibre reinforced concrete business which it has decided to pull put of in the wake of a £3m trading loss last year The firm expects to sell more bricks this year after revenue fell 10% in 2024 But Ibstock said it expected overall market conditions to get better this year It added: “Trading in the early weeks of 2025 has been solid It added that a pick-up in demand had begun in the second half of last year with sales up 6% on the first half and 3% of the same period in 2023 Firm says costs have gone up in wake of last autumn’s Budget Former Taylor Wimpey chief Pete Redfern only started new role last September Firm says revenue last year expected to be in line with 2023 figure DESNZ will boost green skills under its Warm Homes Plan through financial awards  Former Interserve subsidiary posts turnover of £542m for 2024 150 Aldersgate was fully pre-let to social media giant prior to completion and includes new terraces a reconfigured entrance and a public art installation Site powered by Webvision Cloud Management at Ibstock (IBST) deserves credit for streamlining the brickmaker’s operations at a time when activity in its core markets has been subdued a reflection of the uncertain industry backdrop Profitability has been constrained by reduced trading volumes together with an £11.7mn charge in relation to its 2023 restructuring plan Ibstock is also quitting the glass fibre reinforced concrete (GRC) cladding market after the division booked a hefty loss in 2024 The challenges facing the group are reflected in the 45 per cent fall in adjusted earnings per share to 7.7p XFASTINDEX Ibstock has reported pre-tax profit down 30% for the year ended 31st December 2024 to £20.7m (2023: £30.1m) on revenue down 10% at £366m (£406m) Sales picked up in the second half of the year and the company says that it is ‘well-placed for market recovery’ trading in the early weeks of 2025 year has been ‘solid’ Chief executive Joe Hudson said: "Our continued focus on the active management of capacity and margin ensured we delivered a resilient performance in 2024 we saw a progressive improvement in sales volumes through the second half with demand supported by our leading service and supply proposition The effective management of pricing and volumes throughout the year underpinned resilient margins combined with market share gains through the latter part of the 2024 year I am also pleased to report strong progress against all elements of the group's strategy with lower cost more efficient and sustainable capacity in place to support market recovery and continued progress towards our ambitious sustainability targets "We expect an improvement in market volumes in 2025 Ibstock is well-positioned for a market recovery and the fundamental drivers of demand in our markets remain firmly in place We see a significant opportunity for a new era in housebuilding in the UK and with the investments we have made and our market leadership positions the group remains well placed to support and benefit from this over the medium term." Revenues in the core Clay division reduced by 15% to £249m (2023: £292m) even though  the total UK clay brick market in 2024 was steady at 1.7bn units (although still more than 30% below the 2.5bn total market in 2022) Ibstock’s market share improved towards the end of the year Got a story? Email news@theconstructionindex.co.uk 16 hours Following a recent expansion into North America, Murphy Group has now entered Australia. 3 days A Devon housing development has emerged as the centre of a web of corruption. 39 minutes MTX Contracts has been selected as the preferred bidder to build a diagnostic centre in Pitsea, Essex. 39 minutes House-builder Springfield Properties has promoted Darren Thomson to construction director for its north of Scotland operations. 16 hours Controversial government plans to allow developers to pay into a central nature levy to offset local environmental harms are generating increasing opposition. 3 days Dolphin Living has appointed The Hill Group to deliver the redevelopment of the New Era housing estate in Hackney. © 2025 The Construction Index [Company No ' + response[i].created_nice + ' ' + response[i].description + ' Sign our campaign for a grant funding review Backhouse Developments was granted outline planning permission for housing on the site in 2017 the 20-acre St Helens site has been vacant since the former brickworks closed in 2011 which has owned the Ibstock Roughdales site during that period has completed the sale of the plot to Vistry for £12m said: “I will be happy to finally see this site built out “It is good to get the deal done after 13 years of hard work.”  123 homes will be operated by Onward Homes These homes would be available on a variety of tenures including social rent and rent to buy The remaining 120 open market homes will be sold by one of Vistry’s retail housebuilding brands The project will also feature a new public open space with a link to the adjacent Daisyfield Brickfields Woodland managing director at Vistry Merseyside and Cheshire West said: “It is fantastic to be taking on such an iconic development for St Helens and thanks to our partnership with Onward Homes mixed-tenure development that truly reflects the potential of this unique location “This project will not only provide much-needed housing choice but will also revitalise the area creating a lasting legacy for future residents and the wider community.” The former Ibstock Roughdales brick-making factory was demolished following its closure The site recently secured funding from the latest tranche of Liverpool City Region’s Brownfield Land Fund allocation which is used to unlock difficult sites in the city region said: “This is great news for St Helens and its community I’m thrilled to see Vistry Group leading the way in delivering these much-needed homes and creating vibrant communities The investment in affordable housing and public spaces is vital but also enhances the quality of life for residents “This project marks a significant step forward in our commitment to transforming brownfield sites across the Liverpool City Region we’re addressing housing shortages but also investing in the long-term sustainability of St Helens and setting a precedent for future developments across the region.” Work could start on building homes on the former Ibstock Roughdales brickworks site before the end of the year The first homes are expected to be complete in October 2025 Plans for the site’s redevelopment were designed by Liverpool-based DV Architects The Planning Studio is the scheme’s planning consultant growth and regeneration director at Onward Homes added: “We are pleased to be partnering with Vistry once again working together to improve the quality and choice of housing in the local area “As well as providing the most affordable rental options this development will also support people onto their local property ladder and help them put down firm roots where they may otherwise have felt priced out of home ownership.” Read our comments policy Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" Looks like the Vistry alchemists have been at it again Is this the same division that paid £112 million for a parcel of land abutting the M62 in Warrington How can they pay £50K per plot in St Helens and get brownfield funding Looks like public funding has been used to bolster a land value payment If Vistry have the build costs wrong in the South then its evident they have the land values they are paying completely wrong in the North West Lets hope their very wealthy American investors are the sympathetic types Contractor Morris & Spottiswood has begun building the facility off Market Street a short distance from the outdated station it will replace The contractor’s appointment on public realm works including the market square will be discussed at cabinet level next week as St Helens Council and partner ECF look to advance the town centre’s £30m transformation Register for free North West property intelligence Δdocument.getElementById( "ak_js_2" ).setAttribute( "value" Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy. Δdocument.getElementById( "ak_js_3" ).setAttribute( "value" By 2025-01-16T12:15:00 Firm to take £6m restructuring hit in 2024 numbers Ibstock said income for last year will be down 10% when it announces its 2024 results in the spring Existing subscriber? LOGIN Stay at the forefront of thought leadership with news and analysis from award-winning journalists technical project know-how and the latest innovations Get your free guest access  SIGN UP TODAY Subscribe to Building today and you will benefit from: View our subscription options and join our community the Leicestershire-headquartered manufacturer of building products has praised the business’s “resilient performance” in 2024 Full year revenues at the company are expected to have decreased by 10% to approximately £365 million The decline comes in hand with 2024 being a challenging year for UK construction markets with total UK brick deliveries expected to be over 30% below the 2.5 billion recorded in 2022 Ibstock highlighted a progressive improvement in sales volumes across the second half of 2024 with revenues in H2 2024 being 3% ahead of the prior year period and 6% ahead of H1 2024 Adjusted EBITDA for 2024 is expected to be approximately £79 million said: “We are pleased to have delivered a resilient performance consistent with the guidance we gave at the half year in a market where revenues continued to be impacted by subdued activity levels “This result reflects our active management of capacity and cost continued disciplined pricing and a progressive improvement in demand across the second half we expect a further improvement in market volumes to build through the year We made good strategic progress during 2024 to add efficient and sustainable new capacity to our network and we will continue to bring capacity back into production selectively to support our customers “We see a significant opportunity for a new era in housebuilding in the UK and with the investments we have made and our market leadership positions the Group remains well placed to support this over the medium term.” We offer an exciting opportunity in the East Midlands for companies to plan innovative advertising campaigns alongside consistently excellent reporting Our newsletters are sent directly chief executives managing directors and senior managers across the East Midlands with numerous companies from all sectors – from manufacturing to technology – benefiting from our mix of news and features Contact us: sales@blmgroup.co.uk By continuing to use the site, you agree to the use of cookies. more information Accept The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this Close 0%View factsheetSign up for email updatesPrices delayed by at least 15 minutesThis article is more than 6 months old and pension rules may have changed since then Ibstock’s third-quarter sales volumes were in line with the prior year A continued focus on selling prices and cost management has helped underpin “resilient” profitability margins Management said that there have been early indications of an improvement in newbuild activity which should feed through to sustainably stronger demand for its products in due course “carefully targeted investments” have been made to restore some capacity Full-year underlying cash profit (EBITDA) remain unchanged implying EBITDA of around £44mn in the second half Ibstock’s third-quarter update didn’t give investors many fresh figures to sink their teeth into but there were a few positive remarks about the demand outlook compared to the double-digit declines seen in the first half this was a welcome improvement It’s been a tough period for the brickmaker Elevated mortgage rates continue to weigh on housing affordability so the squeeze on margins will remain an issue to grapple with moving forward there are some very early signs that housebuilding activity is picking up mortgage affordability should improve and feed through to increased demand for Ibstock’s products and investors could be rewarded for their patience at the current valuation But there’s no guarantee as to when construction activity will take off Revenue and profits at Leicestershire-based brickmaker Ibstock have plummeted on the back “subdued” market conditions Ibstock reported a falls of 10% in revenues for 2024 to £366m while profit before tax fell almost a third to £21m Profits were hit by an exceptional charge of £12m He said: “We expect an improvement in market volumes in 2025 the group remains well placed to support and benefit from this over the medium term.” Richard Akers to succeed John Nicholls who will step down following company’s AGM in May 2025 Richard Akers will bring a wealth of leadership experience and sector insight to the role having spent his career in the property including 20 years with Land Securities Group plc where he was a senior executive and managing director of the retail portfolio He recently joined Miller Homes Ltd as chair in January 2025 prior to which he was the chair of Redrow plc until their merger with Barratt Developments plc completed in October 2024 Mr Akers spent nine years in non-executive director roles with Barratt Developments plc and is currently the senior independent director at Shaftesbury Capital plc He has also held non-executive roles at Unite Group plc and the Battersea Power Station Development Company and was a fellow of the Royal Institution of Chartered Surveyors who joined Ibstock's board as a non-executive director in September 2015 and was appointed as chair in May 2018 said: ‘It has been a pleasure to be part of Ibstock's board since their IPO in October 2015 and a privilege to have been chair since 2018 I would like to thank my non-executive colleagues on the board for their support ‘I look forward to working with Richard to ensure a smooth transition when he joins us in May the success that Ibstock has achieved over the last few years is down to the excellent leadership of Joe Hudson our chief financial officer and I wish the business well for the future.’ Richard Akers said: ‘I am delighted to be joining a company with strong growth ambitions at such an important time for the building industry I look forward to working with the board as well as Joe and the executive team as Ibstock continue to deliver on their current operational strategy.’ Group chief executive Joe Hudson remarked: ‘I would like to thank Jonathan for all his leadership and support over the last nine years His wisdom and counsel have helped Ibstock to navigate through challenging market conditions as well as a significant investment programme He has also been a real support to me personally ‘We are delighted to welcome Richard to Ibstock He has strong experience as a chair and with our customer base which will be helpful as we capitalize on future recovery in our markets.’ The firm currently has a GBX 200 ($2.66) price objective on the stock Deutsche Bank Aktiengesellschaft lifted their target price on Ibstock from GBX 225 ($3.00) to GBX 240 ($3.20) and gave the stock a "buy" rating in a report on Thursday Get Our Latest Stock Report on Ibstock Shares of LON IBST traded up GBX 3.24 ($0.04) during midday trading on Wednesday The stock had a trading volume of 1,331,133 shares compared to its average volume of 2,610,804 The company's 50 day moving average price is GBX 169.11 and its 200 day moving average price is GBX 176.64 The company has a debt-to-equity ratio of 46.91 a quick ratio of 1.19 and a current ratio of 1.37 Ibstock has a twelve month low of GBX 133 ($1.77) and a twelve month high of GBX 212 ($2.82) The firm has a market cap of £707.02 million a price-to-earnings-growth ratio of 0.47 and a beta of 1.34 Ibstock (LON:IBST - Get Free Report) last released its earnings results on Thursday The company reported GBX 7.70 ($0.10) earnings per share (EPS) for the quarter Ibstock had a net margin of 2.01% and a return on equity of 1.83% sell-side analysts expect that Ibstock will post 11.0089552 EPS for the current year The company also recently announced a dividend May 8th will be given a dividend of GBX 2.50 ($0.03) per share This is a positive change from Ibstock's previous dividend of $1.50 The ex-dividend date of this dividend is Thursday Ibstock's dividend payout ratio is presently 270.70% MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on.. While Ibstock currently has a Moderate Buy rating among analysts top-rated analysts believe these five stocks are better buys View The Five Stocks Here These 10 simple stocks can help beginning investors build long-term wealth without knowing options Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools 28 Mar 2025 By The departure of Severfield’s chief executive and Ibstock appointing a new chair were the main people stories in construction this week announced that its boss Alan Dunsmore will leave after seven years at the helm The news came less than a month after the publicly-listed firm announced a profit warning leading to a sharp drop in its share price Severfield had already seen its share price halve last November after it reported a hit from defects to HS2 bridges who has spent 15 years in total at Severfield will leave by “mutual consent” at the end of June Severfield chairman Charlie Cornish thanked Dunsmore for his “commitment” Dunsmore said it was the “appropriate time” to hand over to a new chief executive A search to find a replacement for Dunsmore has begun Building materials giant Ibstock has appointed a former Land Securities executive as its new chair Richard Akers will take up the role at the Leicestershire-based firm on 5 May who is stepping down after seven years as Ibstock’s chair and will leave its board Akers spent 20 years with Land Securities in his executive career he has spent nine years on the board at Barratt Homes and three years as chair of Redrow Akers stepped down from Redrow last October following Barratt’s £2.5bn acquisition of its rival He is also currently chair of Miller Homes after taking the role at the Edinburgh-based housebuilder in January this year Akers said: “I am delighted to be joining a company with strong growth ambitions at such an important time for the building industry.” Trade body the Concrete Repair Association (CRA) has appointed a new executive officer to lead its lobbying efforts and events who was company secretary at the body previously will be responsible for raising the CRA’s public profile and being a spokesperson with government and industry bodies Fairley said she was “excited and driven to take the association to a new level” The CRA’s members include specialist contractors product manufacturers and product distributors in the field of concrete repair The Building Cost Information Service (BCIS) has promoted one of its top team to be its new boss Richard Linstead will become chief executive at the data firm after two years as chief product and technology officer who is moving into a newly-created role of executive director at the Harrogate-based firm He said: “I’m looking forward to leading this exceptional team in evolving our existing platforms and services while developing innovative new data products and tools to further improve the user experience and offering for our customers.” BCIS was founded as part of the Royal Institution of Chartered Surveyors (RICS) but was spun out of the organisation in 2022 to become a standalone company The firm offers cost and price data for the UK construction industry This story was written with AI assistance from Harmsworth Who is Harmsworth?… This story was written with AI assistance from Harmsworth Becky Wood has… By NOTICEBOARD · 25 April 2025 Ibstock Bowls Club will host a charity gala to raise funds for SANDS the leading stillbirth and neonatal death charity that supports families across the UK.The gala takes place at the same time as Bowls’ Big Weekend an annual national event that aims to introduce more people to the sport of bowls with clubs nationwide opening their doors for the bank holiday weekend including Ibstock.The weekend’s official charity partner is Cancer Research UK with clubs across the country raising funds for the charity Ibstock’s gala is an independent event that hopes to build on the Bowls’ Big Weekend experience.Hosted at the club across the May bank holiday weekend the fundraising event has been organised alongside Sands Utd FC – Ashby one of 30 teams that were designed to offer a save environment for bereaved fathers to interact and engage with others.The club will be offering free bowls sessions for all part of the national campaign organised by Bowls England which offer a great day out for families or people just wanting to try something new LoadingDaily Email Updates {{contentTitle}} By 2024-10-14T11:53:00 US asset manager BlackRock has increased its stake in brickmaker Ibstock to more than 10% Ibstock ( (GB:IBST) ) has provided an announcement Ibstock plc has announced the appointment of Richard Akers as the new Non-Executive Director and Chair Designate This leadership change follows Jonathan Nicholls’ decision to step down after the upcoming AGM Akers brings extensive experience from the property and house building sectors which is expected to support Ibstock’s growth ambitions and operational strategy in the building industry Ibstock plc is a leading UK manufacturer specializing in building products and solutions Learn more about IBST stock on TipRanks’ Stock Analysis page Disclaimer & DisclosureReport an Issue Ibstock ( (GB:IBST) ) has provided an announcement Disclaimer & DisclosureReport an Issue SearchLog inAccounts & servicesISAs Transfer a pensionTrading Accounts Joint Trading AccountCompany AccountTransfer a Trading AccountOther services Join us and over 430,000 others already investing for a brighter financial future. Ibstock among top mid-caps.css-1bi0btv{margin-bottom:1.5rem;font-family:var(--font-poppins sans-serif);font-weight:var(--chakra-fontWeights-normal);line-height:23px;}@media screen and (min-width: 0px){.css-1bi0btv{font-size:1rem;}}@media screen and (min-width: 992px){.css-1bi0btv{font-size:calc(1rem + 2px);}}Of the dozen or so companies putting in big gains on the mid-cap index during Wednesday’s session City writer Graeme Evans reveals why they’re flying The buying, which also included strong demand for Computacenter (LSE:CCC) and QinetiQ Group (LSE:QQ.), followed a reverse for the FTSE 250 from 20,881 in mid-February to last night’s 19,950. Construction materials firm Breedon led today’s strong mid-cap session as shares jumped 54p to 481.5p thanks to forecast-beating annual results and another major US deal. Exactly one year on from its entry to the US market with the acquisition of BMC, Breedon is buying another Missouri-based business with the addition of Lionmark. The move, which comes with an enterprise value of $238 million (£187 million) gives Breedon exposure to the US asphalt and surfacing market. Analysts at Goodbody said the deal increased the total US share of earnings from 11% in its current 2025 estimates to about 19%, adding that the additional US infrastructure exposure should be highly valued by the market. Annual revenues rose 6% to £1.6 billion in 2024, with the US diversification helping to offset “significant market headwinds” in Britain as well as poor weather conditions. Pre-tax profits rose 4% on an underlying basis to £150.8 million. Breedon is optimistic that 2024 should represent a floor in construction market activity in the UK, while conditions in Ireland remain supportive. The company adds that its M&A pipeline is well populated. Chief executive Rob Wood said “Entering 2025 we have three strong platforms, a first-class team, an abundance of opportunity and our markets are poised for recovery.” The shares rose 23% in 2024 but had drifted prior to today’s rebound, leading to a multiple of about 11.5 times forecast 2025 earnings. Peel Hunt said: “Given the upgrades and our belief the business remains well run and will be able to continue expanding its geographic footprint in the US, multiples continue to look too low.” The broker has an Add recommendation and target of 500p, while Deutsche Numis is at 520p. Ibstock, a leading UK provider of bricks and other building products, rose 11.95p to 164.35p as it said recent strategic initiatives left it well placed for a recovery in housing starts. Results for 2024 showed a 10% drop in revenues to £366 million but demand improved as the year progressed, with second-half sales up 3% on 2023 and 6% ahead of the first half. Adjusted earnings of £79 million fell 26%, a decline in line with company and City expectations  as 2023’s margin of 26.5% reduced to a “robust” 21.7%. A final dividend of 2.5p a share is due for payment on 30 May, leaving the total for the year 3p lower at 4p. With a capital investment programme substantially complete, Ibstock said it has lower cost and more efficient capacity in place to respond to increases in housing market activity. It points out that its upgraded clay factory network can operate at roughly double the levels of brick output delivered in 2024. The company described trading so far in 2025 as solid, with momentum forecast to build throughout the year. Peel Hunt, which has a price target of 190p, said: “Ibstock has prepared itself well for the housing recovery when it comes. “The new plants give it the potential to grow volumes materially at lower costs from the 2024 low point. Operational gearing should see profits jump sharply over the medium term.” Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article. .css-3vll99{font-family:var(--font-poppins, Poppins, Segoe UI, Helvetica Neue, Arial, sans-serif);font-weight:var(--chakra-fontWeights-bold);font-size:var(--chakra-fontSizes-font-m);line-height:20px;}Related Categories Get more news and expert articles direct to your inbox TrustpilotTrustpilotInvestment accounts © 2018 - 2025 Interactive Investor Services Limited Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority As the UK’s biggest brickmaker, with over 40 per cent of the market, it’s hardly surprising that Ibstock (IBST) is continuing to suffer due to the decline in demand, with government data for June showing brick deliveries were down 12.9 per cent year on year.  In a business with such high fixed costs (it operates 14 brickworks and 14 quarries), a 20 per cent decline in revenue has a much bigger impact on profitability.  has announced the sale of Peak Pharmacy in Ibstock Built around You.Your expert business property advisers Peak Pharmacy is an independent pharmacy chain with circa 150 pharmacies across the UK This branch in the town centre of Ibstock is a standard hours community pharmacy that dispenses an average of circa 2,700 items per month Peak identified the pharmacy as suitable for disposal due to the low item numbers and it would be more suited to an owner-operator Following a confidential sales process with Carl Steer at Christie & Co a first-time buyer who will be relocating to Leicester to operate the pharmacy hands-on “We have been pleased to act for Peak Pharmacy to divest of some of their smaller branches in recent years All the completed sales have been sold to first-time buyers who will go on to operate the pharmacy with a hands-on approach will be successful and drive the business forward under his ownership.” Peak Pharmacy was sold for an undisclosed price Visit Christie & Co’s Business Search page to find out more about current medical listings. Keep up-to-date with our latest listings and more… © Christie & Co 2024 | A member of Christie Group Ibstock’s half-year revenue fell 20% to £178mn The miss was driven by worse residential sales volumes and a “modest reduction in selling prices” Underlying cash profit (EBITDA) fell 40% to £38mn Underlying free cash flow improved from an outflow of £22mn to an outflow of £16mn reflecting lower levels of investment into the business The group is “encouraged” by an “improving trend in sector lead indicators” but their impact on the current financial year is likely to be limited second-half underlying cash profits are set to be broadly in line with the prior year’s £44mn An interim dividend of 1.5p per share has been announced The shares rose 1.6% following the announcement It’s been a tough first half for brickmaker Ibstock Revenue and profits were both down significantly year-on-year and overall performance fell short of market expectations That’s contributed to weaker demand for Ibstock’s products and both volumes and prices have fallen as a result Brickmakers typically have high fixed costs as the kilns used to make the bricks require a lot of energy to heat up Efforts are being made to pull back production carefully matching supply with demand to avoid a build-up of inventory which would put more downward pressure on prices So far this has been enough to keep margins broadly flat there should be lower demand for the group’s cash resources it does mean the 2.9% forward dividend yield could well end up lower than forecast But exactly when activity will pick back up is difficult to map there's also a push to become a leader in more sustainable housebuilding This new arm's first order of business is brick slips which should also help fuel growth prospects when the market turns there are some very early signs that residential volumes are beginning to bottom out The fact that lenders are becoming more competitive on mortgage rates is a major positive for homebuyers which should ultimately feed through to increased demand for Ibstock's products But should that picture change and a more significant slowdown materialise we could see Ibstock's volumes fall further But we expect demand to remain relatively weak into 2025 meaning there's plenty of room for negative shocks We use cookies to make sure we give you the best experience possible. By continuing, you're accepting that you're happy with our cookie policy. Click here to find out more Sam Bailey the power house vocalist will again take to our stage to perform and 1 hour set supported by the incredibly funny / incredible singer Mr Marc Bolton  Please note: The event information above has been added by the organiser Whilst we try to ensure all details are up-to-date we do not make any warranty or representation as to the accuracy or completeness of the information shown because we believe true fans deserve a fairer and smarter way to discover events they love.” 0.08);border-bottom-width:thin;margin-top:35px;margin-bottom:35px;border-color:#4e4e4e;margin-top:16px!important;margin-bottom:16px!important;}© 2001 - 2025 Skiddle Ltd | Skiddle is a registered trademark | ALL RIGHTS RESERVED Essential digital access to quality FT journalism on any device Complete digital access to quality FT journalism with expert analysis from industry leaders Complete digital access to quality analysis and expert insights complemented with our award-winning Weekend Print edition Terms & Conditions apply Discover all the plans currently available in your country See why over a million readers pay to read the Financial Times a leading building products manufacturer with multiple site locations across the UK have recently made the decision to invest £64 million into the redevelopment of its Atlas site we are already working on new technologies and solutions to further reduce carbon and achieve net zero operations by 0; leading on innovation and engaging with employees and the local community to further progress environmental improvements and social impact particularly in the local area Ibstock is renowned for brick manufacturing Our innovative teams create a diverse range of building products and solutions that set industry standards contractors and developers to create exceptional homes Our product portfolio includes clay bricks facade systems and other sustainable construction solutions we continue to support the evolving needs of the construction industry and contribute to the built environment's transformation as we all look to reduce our carbon footprint Apprenticeships range from 15 months to 4 years each providing a competitive salary and an opportunity to build skills for the future Each apprentice benefits from on-the-job learning alongside and experienced mentor Ibstock’s Rail & Infrastructure specialist brand has played an important part of a section of the HS2 project featuring a 3.4km viaduct across the Colne Valley The Central 1 (C1) section of HS2 is being delivered by the Align JV This area includes a network of lakes and waterways stretching between Hillingdon and the M25 on the northwest outskirts of London the viaduct will be the longest railway bridge in the UK extending nearly a kilometre longer than Scotland’s iconic Forth Road Bridge Anderton Concrete collaborated closely with Keyline & Align to engineer an innovative trackside drainage system ultimately delivering a tailor-made solution to meet complex requirements This involved the manufacture of specially adapted existing Anderton Concrete Cable Troughing units that were to be installed either side of the line running across the viaduct and a third serves as part of a drainage system commented: This was one of our largest orders to date involving over 20km of troughing units The work undertaken demonstrates the company’s ability to deliver technical solutions that meet detailed and often complex customer requirements Numerous planning and update meetings were held between Anderton Concrete Keyline and Align to ensure that the project’s specification requirements were met and to ensure everything was on track at each stage of delivery “Our technical team met the strict specification parameters laid down by Align JV and implemented innovative revisions to an existing Troughing designs to meet the specific requirements of the viaduct “Regular meetings enabled early identification of any tweaks that were needed to update the design The three-trough concept was created so that the first two housed the electric cables while rainwater would run off their lids into the third trough “Anderton Concrete were awarded the contract for our technical capabilities and production capacity we were already supplying a range of products to the HS2 project and it helped streamline material and supplier approvals “We first started discussing the project in late 2022 with work commencing in the second half of 2023 The majority of the installation was completed last year By working collaboratively with Keyline and Align we were able to find a bespoke solution to a challenging design problem and refine the product to fulfil all requirements The seamless installation highlights the crucial value of collaboration in the infrastructure sector.” Rail Business Daily’s market leading news and profile enhancement services enable your business to tell your story to the wider rail community Engage with thousands of readers via our rail news platforms including the hugely popular 7am newsletter rail news website and Rail Director magazine you agree to us sending you emails on behalf of railbusinessdaily.com By 2024-07-02T11:50:00 Andrew Shepherd will be managing director at Ibstock Futures The former managing director of TopHat has announced he has joined the brick manufacturer Ibstock.  Andrew Shepherd revealed in a post on LinkedIn that he had joined the firm as managing director of the Ibstock Futures business unit.