Ibstock shares hit lowest since 2016 amid weak construction demand

Ibstock

10/10/2025 08:31

Corrects percentage fall to 14.8% from 17.37% in 1st bullet, YTD fall to about 24% from 24.41% in 7th bullet

   ** Shares of British bricks and concrete producer Ibstock IBST.L down as much as 14.8% to 114 p, lowest since July 2016

** Top loser on London's mid caps index .FTMC

** IBST expects H2 adjusted EBITDA and sales volume to be in line with H1 due to lower construction demand

** Co says uncertain near-term economic and political backdrop in core markets has led to weaker than expected demand in both the clay and concrete segments in Q3

** Peel Hunt lowers PT to 155 p from 190 p

** Brokerage notes Group's performance is impacted by sluggish new housing market and uncertainty from the UK's upcoming budget

** Up to Thursday's close, stock had fallen about 24% so far this year

 (Reporting by Simone Lobo in Bengaluru)

 ((Simone.Lobo@thomsonreuters.com; +919920570373;))