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Ibstock Q3 performance above its expectations, revenue at 88% of prior-year level
StockMarketWire.com
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Clay bricks and concrete products maker Ibstock reported better-than-expected performance amid an ongoing recovery in demand, with revenue in the third quarter at 88% of the prior year's period.
Volumes had recovered to around 90% of prior-year levels in September and remained at these levels during the month of October.
'The group exited the third quarter with good momentum and current trading performance is ahead of our previous internal base case for the full year,' the ocmpany said.
Looking ahead, assuming no further material disruption in the balance of the year, the company said it expected adjusted earnings before earnings, interest, taxes, depreciation and amortization, or EBITDA, for the 2020 financial year to be approximately £50 million.
Story provided by StockMarketWire.com
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