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Ibstock lines up additional dividend despite profits falling 17% in H1

By BFN News | 09:32 AM | Wednesday 31 July, 2019

Ibstock said it would an additional dividend despite reporting a fall in profits blaming one-off costs and tougher comparisons. The company also announced the acquisition of Longley Concrete. For the six-month period ended 30 June 2019, pre-tax profits fell 17% to £41m, while revenue was up 6% to £203m. The interim dividend of 3.2p per share, was up from 3p last year, with the company also declaring an additional 5.0p supplementary dividend to be paid alongside the 2019 interim dividend in September 2019. 'In the short term, we are cognisant of the ongoing macroeconomic uncertainty in the UK, and note that there has been some slight softening in the merchant sector in recent weeks. Nonetheless, the Board anticipates a further year of progress for the Group and our full year expectations remain broadly unchanged,' the company said. At 9:32am: (LON:IBST) Ibstock Plc share price was -2.1p at 228.7p Story provided by

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