UK brickmaker Ibstock issues profit warning as sales slump 22% below expectations
Company cuts production, criticises delay to government homebuyer scheme
The UK’s largest brickmaker, Ibstock, has issued its second profit warning this year after sales plunged 22% below expectations in the three months to September, prompting a 20% cut in production. The company said full-year profits would be 'materially below' forecasts and criticised the government for delaying its 'Your First Home' support scheme until April 2027, which it said had put additional pressure on near-term demand.