Building products and solutions maker Ibstock Plc (IBST.L), on Wednesday, reported 6-month statutory profit before taxation of £12 million compared to £30 million last year. On a per share basis, earnings fell 61% to 2.2p from 5.7p earned a year ago.
Adjusted EBITDA was £38 million versus £63 million in the prior year period. Adjusted earnings totaled 3.5p per share compared to 9.0p per share in the same period of last year.
Revenue for the period amounted to £178 million, down 20% from the previous year's revenue of £223 million, primarily resulting from lower sales volumes across the core business.
Joe Hudson, Chief Executive Officer, said, "Market conditions remained challenging in the first half, as expected, with sales volumes below those reported in the comparative period. We delivered a solid profit performance for the period which reflected our ongoing focus on the active management of cost and margin…"
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