Ibstock Cuts Profit Outlook Again
Ibstock shares tumbled to a record low after the British brick maker cut its annual profit forecast for the second time. The company cited persistent weakness and delayed government subsidies in the construction market.
Xurve View
Insights:
Xurve View
IBSTOCK PLC shares tumbled 15% to a record low on Monday after cutting annual profit expectations for the second time, citing persistent construction market weakness. The United Kingdom bricks and concrete maker now expects adjusted core profit in the mid-£40 million range. That downgrade fell short of the previous forecast range of £59 million to £68 million set earlier in the year.
