Ibstock (IBST)

Sector:

Construction and Building Materials

Index:

FTSE 250

150.70p
   
  • Change Today:
    -0.90p
  • 52 Week High: 176.40
  • 52 Week Low: 120.90
  • Currency: UK Pounds
  • Shares Issued: 392.84m
  • Volume: 700,630
  • Market Cap: £592.01m

Ibstock swings to profit amid strong demand

By Michele Maatouk

Date: Wednesday 09 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Brick and concrete products manufacturer Ibstock said on Wednesday that it swung to a full-year profit amid strong demand.
In the year to the end of December 2021, the group swung to a statutory pre-tax profit of £65m from a loss of £24m a year earlier, with revenues rising to £409m from £316m.

Ibstock said the clay division delivered strong progress, building on the momentum of the second half of last year, with clay sales volumes building back towards pre-pandemic levels. Meanwhile, the concrete business continued to benefit from its exposure to a broad range of repairs, maintenance and improvement (RMI) markets and "resilient" demand for its products.

Chief executive Joe Hudson said the results reflect continued robust demand across the company's markets and strong operational execution.

"Despite market-wide challenges arising from cost inflation and supply chain pressure, we have delivered a result ahead of the board's expectations, and are well positioned for future growth," he said.

"Whilst we remain mindful of the broader macroeconomic uncertainties, particularly in light of the tragic conflict in Ukraine, we have made a good start to 2022, with a strong demand backdrop. This positive momentum, along with additional brick capacity coming on stream during 2022, provides us with a strong platform to deliver significant further financial and strategic progress."

At 0835 GMT, the shares were up 4.2% at 160.47p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Ibstock Market Data

Currency UK Pounds
Share Price 150.70p
Change Today -0.90p
% Change -0.59 %
52 Week High 176.40
52 Week Low 120.90
Volume 700,630
Shares Issued 392.84m
Market Cap £592.01m

Ibstock Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
15.74% above the market average15.74% above the market average15.74% above the market average15.74% above the market average15.74% above the market average
41.46% below the sector average41.46% below the sector average41.46% below the sector average41.46% below the sector average41.46% below the sector average
Price Trend
1.49% above the market average1.49% above the market average1.49% above the market average1.49% above the market average1.49% above the market average
21.95% below the sector average21.95% below the sector average21.95% below the sector average21.95% below the sector average21.95% below the sector average
Income
44.26% above the market average44.26% above the market average44.26% above the market average44.26% above the market average44.26% above the market average
17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average
Growth
78.6% below the market average78.6% below the market average78.6% below the market average78.6% below the market average78.6% below the market average
75.61% below the sector average75.61% below the sector average75.61% below the sector average75.61% below the sector average75.61% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 7
Sell 0
Strong Sell 0
Total 9
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ibstock Dividends

  Latest Previous
  Final Interim
Ex-Div 09-May-24 24-Aug-23
Paid 31-May-24 15-Sep-23
Amount 3.60p 3.40p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 482,520 @ 150.70p
16:35 1,854 @ 150.70p
16:35 3,101 @ 150.70p
16:35 122 @ 150.70p
16:35 1,371 @ 150.70p

Ibstock Key Personnel

Chair Jonathan C Nicholls
CEO Joe Hudson
CFO Chris McLeish

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