Chief executive Matt Pullen said: “We are undertaking a review of the Group’s strategy and have identified a number of opportunities to deliver outperformance over the medium term. 

“These include attractive sustainability-driven markets across bricks and masonry, water management and energy transition alongside a cyclical recovery in our core landscape and roofing businesses, supported by the new Government’s commitment to increase house building significantly. 

“We will provide more information on our new five-year strategy at a capital markets event on 19 November 2024.”

He added: “Housebuilders are increasingly keen to use concrete bricks, particularly in affordable housing, and are becoming more comfortable with the aesthetics as an alternative to clay. In addition, there is a wide variation in regional adoption of the product which indicates significant potential for future growth.”