IN BRIEF: Ibstock swings to interim loss on weak UK housing market
Ibstock PLC - Leicestershire, England-based building products supplier, including clay bricks and concrete walls, floors and fencing - Falls to pretax loss of GBP26.6 million in the six months that ended June 30 from a profit of GBP7.7 million a year before, as revenue declines 15% to GBP164.2 million from GBP193.4 million while cost of sales rises 8.6% to GBP153.1 million from GBP141.0 million. The resulting drop in gross profit to GBP11.1 million from GBP52.5 million is only partly mitigated by reduction in administrative expenses to GBP18.2 million from GBP23.8 million. Adjusted earnings before interest, tax, depreciation and amortisation falls 28% to GBP26 million from GBP36 million, and adjusted Ebitda margin narrows to 15.7% from 18.4%. Read More