LEICESTERSHIRE, UK — Ibstock, the largest brickmaker in the UK, has reported a sharp 22% plunge in sales over the summer months, underscoring a deepening downturn in the country's housebuilding sector.
Announcing the figures on Monday, the Leicestershire-based manufacturer revealed that the sales slump occurred during the three months leading up to the end of September. In response to the weaker demand, the company has cut its production levels by a fifth.
Following the decline in output and market conditions, Ibstock also used the update to criticize the UK government, arguing that officials have been too slow to introduce fresh support and measures to assist the struggling housing market.
