With UK market demand for clay bricks outstripping domestic manufacturing capacity, Ibstock is investing in a new factory with capacity to make 80 million bricks a year, with 鈥渁n industry leading manufacturing cost and sustainability profile鈥�. It is expected to be commissioned during 2022.
鈥淭his investment will expand further our capacity against a backdrop of a significant UK housing deficit and robust demand from the new build housing sector over the medium term.鈥�
News of the new factory came as Ibstock reported 5% growth in revenues for 2019 to 拢409m (2018: 拢391m) but pre-tax profit was down 12% to 拢82m (2018: 拢93m). But the 2018 profit figure was inflated by the one-off impact of the sale of some property.
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