Full Year 2018 Ibstock PLC Earnings Call Transcript
So good morning, and welcome to the 2018 full year results for Ibstock. You have Kevin and myself presenting today with no ties. This is the new Ibstock. Once we've given an overview of 2018, I'll give you an update on the strategy and then we'll turn it over to questions and answers.
So all things considered, it was eventful busy year with Ibstock last year. I think it was a very positive all said. We had to make some tough decisions at the half year time to do our maintenance reset. This was the right thing to do for the long-term sustainability of our business and that's progressing well.
So just in terms of highlights, we've delivered another year of revenue and EBITDA growth. We've successfully commissioned our GBP 100 million brick factory in Leicester, at a time when the market really needs the extra capacity. We simplified our group structure by divesting our U.S. business, and we've generated around GBP 10 million of profit from surplus property disposals. So the above 2 things have meant we are able to deleverage our balance
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