Clay and concrete building products supplier Ibstock (IBST) plumbed new 12-month lows recently, adding to losses which has seen the shares lose a quarter of their value.

The shares slumped 16% in June after the brick maker issued a profit warning and lowered full year EBITDA (earnings before interest, tax, depreciation, and amortisation) to a range of £77 million to £82 million, undershooting the £87.8 million expected by analysts.

The company said demand for lower priced wire-cut bricks from the major developers had a negative mix impact on group pricing, which, combined with a more competitive market, made passing on cost inflation more challenging.

There was some relief at the first-half results (6 August) after the company reiterated full year profit guidance amid a recovery in volumes, stable pricing and ‘some potential’ for positive sales mix during the second half.

Analysts appear to have taken this on board with 2025 consensus earnings per share forecasts nudging up 3% in recent weeks. 

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