Ibstock’s full-year revenue rose 2% to around £372mn, slightly below consensus forecasts as market conditions became tougher over the second half.
Cash profit (EBITDA) is expected to land broadly in line with previously downgraded guidance at around £71mn. This comes as a tight grip on costs and disposals of some non-core assets helped to improve margins and offset the revenue shortfall.
Year end net debt improved marginally from £122mn to around £120mn.
In 2026, end markets are expected to remain subdued over the first half, before growing modestly in the second half. As a result, margins are now expected to come under some pressure in 2026.
The shares fell 4.4% in early trading.
Our view
HL view to follow.
Ibstock key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.