Ibstock PLC (LSE:IBST) shares were weaker on Wednesday as the building materials supplier gave the market a softer outlook.
Ibstock told investors it expects first-half sales volumes in its core business to be materially above the same period last year, driven by higher demand in the residential construction sector.
But, the volume is weighted to lower margin lines and buyers. And, the prices for clay and concrete are forecast to be broadly flat year-on-year.
Ibstock said earnings (adjusted EBITDA) for the full year are now expected to be in the range of £77 million to £82 million. In 2024, the figure was £79 million.
In London, Ibstock shares were down 12%, changing hands at 169.6p.