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Brickmaker Ibstock reported a fall in profit amid a tough comparative period following an exceptional profit in 2018 on the sale of surplus profit.
For the year ended 31 December 2019, pre-tax profit declined to £82m from £93m on-year and revenue was up 5% to £409m.
The fall in profit was blamed on a tough comparative, as 2018's results included an exceptional profit on disposal of surplus property of £9.6m.
'The political uncertainty, which caused subdued market conditions in the second half of 2019 has meant a slower start to 2020. We anticipate that activity levels will improve as the year progresses and, as a result, expect to deliver a stable outcome for the year,' the company said.
At 9:52am: (LON:IBST) Ibstock PLC share price was -4p at 276.6p