Business & Economy
Brickmaker’s woes deepen the UK housebuilding gloom
Source: Business | The Guardian · Published
Ibstock has issued a thumping profits warning, with sales 22% below expectations in the third quarter With John Healey’s Your First Home scheme on the way, is the mood improving in the housebuilding sector? A couple of the builders have results later this week, so can speak for t
Ibstock has issued a thumping profits warning, with sales 22% below expectations in the third quarter With John Healey’s Your First Home scheme on the way, is the mood improving in the housebuilding sector? A couple of the builders have results later this week, so can speak for themselves. In the meantime, though, here’s a thumping profits warning from Ibstock, the country’s biggest brickmaker, to spread a little more gloom.
Demand hit a brick wall in the summer, as the company could have put it. Industry data, said Ibstock , show UK brick market volumes down 17% year-on-year in July and August. For the whole of the third quarter, it said, sales were 22% below expectations, forcing a one-fifth cut in its production volumes versus plans set out as recently as August.
Continue reading...
Related stories
Sales slump at UK’s largest brickmaker as housebuilding downturn deepens
Ibstock, which has cut production by a fifth, criticises government for delay in help for housing sector Sales at the UK’s largest brickmaker plunged by more than a fifth over the summer, as it criticised the government for not introducing fresh help for the housing sector faster
Business | The Guardian ·
Control of Britain’s 39m smart meters passes to non-profit startup
The handover marks the end of a 13-year licence for Smart DCC, a subsidiary of Capita, after years of spiralling costs and delays Control over Great Britain’s 39m smart meters has passed to a non-profit startup after its former owner presided over more than a decade of spiralling
Business | The Guardian ·
Shabana Mahmood softens immigration plans in face of cabinet backlash
Exception for care workers will allow an estimated 280,000 people and their dependants to apply for indefinite leave to remain after five years UK politics live – latest updates Shabana Mahmood has softened plans to force low-paid workers to wait 15 years before settlement in the
Business | The Guardian ·
Tomb Raider’s creators on how the game changed their lives: ‘Skint staff were suddenly pulling up in sports cars’
‘Giving Lara Croft pistols meant we could show off her acrobatics. And when she goes to Peru, we threw in a T rex!’ I joined Core Design in the summer of 1994 and met Toby Gard, who showed me his concept sketches for Tomb Raider. He’d already come up with the title and drawn a mo
Business | The Guardian ·
Automakers like Rivian and Ford are ‘democratizing 3D printing’ to reduce costs and increase speed
Automakers including Ford, Rivian and GM are expanding 3D printing to make prototypes, factory tools and low-volume parts faster and at lower cost.
Business News ·