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Brickability Group warns of lower-than-expected earnings due to falling brick sales, with UK shipments down 30% and imports down 42%.
Brickability Group, a UK building materials firm, has warned that lower-than-expected earnings are due to falling sales, with its shares plunging by up to 15%.
The company has cited a significant drop in brick sales over the past year, with UK brick shipments down around 30% and importing falling by 42%.
Brickability expects demand for bricks and building materials to stay low until the end of its financial year in March, with the recovery predicted to take longer than expected.
This could result in full-year underlying earnings being "towards the lower end" of the previously forecasted £46.2 million.
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Brickability Group advierte sobre ganancias inferiores a las esperadas debido a la caída de las ventas de ladrillos, con una caída de los envíos del Reino Unido del 30% y de las importaciones del 42%.