Ibstock to sell former quarry for £9.3m

Ibstock, which manufactures clay bricks and concrete products, has agreed to sell a former quarry near Bristol.

The company said on Tuesday that it has entered into an unconditional contract for a consideration of £9.3m in cash.

The consideration is payable in full on completion, which is expected to be the end of August, and it is anticipated that the sale will generate a reported pre-tax profit on disposal of around £6m.