Brickmaker’s woes deepen the UK housebuilding gloom
Ibstock, a UK brickmaker, warned that its profits would fall sharply, citing a 22% drop in sales for the third quarter compared to forecasts. The company’s outlook signals deeper troubles for the country’s housebuilding sector, where construction activity has slowed and demand for building materials has weakened. Investors now face uncertainty over Ibstock’s future performance.