Ibstock, the manufacturer of clay bricks and concrete products, has hailed a “strong trading performance” in an update for its third quarter, ended 30 September 2022.
Trading is ahead of the Leicestershire-based firm’s expectations, which it says has been supported by robust demand and a resilient business model.
Ibstock’s board now expects FY22 performance to be above its previous expectations.
The company said: “Whilst remaining mindful of the uncertain macroeconomic environment, the resilience of our business model and the strength of our performance in the third quarter of the year give us confidence in the outlook for the full year. Accordingly, we now expect performance for the 2022 year to be above our previous expectations.”
Joe Hudson, Chief Executive Officer, said: “Our strong trading in the first half of the year continued through the third quarter, supported by robust demand across our end markets. We remain focused on serving our customers, through providing high quality, sustainable products and solutions to create much-needed homes and spaces across the UK.
“We are making good progress in line with the strategy set out in March, and have continued to invest in areas that support our plans to capture growth opportunities across both our existing markets and new, fast growth segments of the construction sector.
“Whilst we remain mindful of the elevated macroeconomic uncertainty, we now anticipate performance for the 2022 year to be above our previous expectations.”
