Sales slump at UK’s largest brickmaker as housebuilding downturn deepens

Ibstock, which has cut production by a fifth, criticises government for delay in help for housing sector

Sales at the UK’s largest brickmaker plunged by more than a fifth over the summer, as it criticised the government for not introducing fresh help for the housing sector faster.

Leicestershire-based Ibstock said on Monday that sales slumped by 22% below its expectations in the three months to the end of September, prompting it to slash production levels by a fifth.

Ibstock issued its second profit warning this year and said UK brick market volumes declined by 17% year on year in July and August, with weak market conditions continuing through September and October.