StockMarketWire.com - Bricks and concrete manufacturer Ibstock said performance was improving in its UK and US businesses following a slow start to the year amid adverse weather.

For the first four months of the year, Ibstock said it bricks and concrete businesses saw price increases by sales channel that were in line with expectations, but energy prices were higher than expected - a trend, which would likely continue for the remainder of 2018.

The commissioning of the company's new 100m brick per annum soft mud factory in Leicestershire was on track.

'Market fundamentals in the UK remain robust with the demand for new housing, in particular, continuing to underpin activity levels in both our clay and concrete businesses,' Ibstock said.

US activity was also impacted by the weather in first quarter but volumes have since improved and were in line with traditional seasonal levels, the company said.

'At this early stage in the US building season we anticipate a stable performance from our Glen Gery business,' it added

Group performance is expected to be weighted towards the second half, driven predominantly by new volumes from its major projects in bricks and roof tiles.


At 9:02am: [LON:IBST] Ibstock Plc share price was -15.4p at 277.2p



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