Ibstock plc £IBST - A Valuation on 12th July 2021

The UK's #1 brick company has been a steady performer. Will they be able to return margins to their long-term average, or will labour cost inflation prevent this?

Ibstock plc manufactures and sells clay and concrete building products in the United Kingdom. The company’s products include clay bricks, brick components, concrete roof tiles, concrete stone masonry substitutes, concrete fencing, and concrete rail products. Its products are used in new build housing, repair, maintenance, improvement, and infrastructure markets.

The company includes two divisions that both have leading market positions in the UK:

• Ibstock Clay — Ibstock Kevington and Ibstock Brick — Offers the largest range of bricks manufactured in the UK as well as prefabricated elements, precast solutions and brick-faced facade systems for both low and high-rise developments.

• Ibstock Concrete — Longely, Anderton, Forticrete, and Supreme — Manufactures high quality, precast concrete products for the residential housing and hard landscaping markets and also a small position in the infrastructure market.

The company has 36 manufacturing sites across the UK, over 400 different brick produ…