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 “an industry leading manufacturing cost and sustainability profile”. It is expected to be commissioned during 2022.
“This 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.”
News of the new factory came as Ibstock reported 5% growth in revenues for 2019 to £409m (2018: £391m) but pre-tax profit was down 12% to £82m (2018: £93m). But the 2018 profit figure was inflated by the one-off impact of the sale of some property.