May 9, 2019 / 2:10 PM / 3 months ago

Wienerberger sees continued strong demand for its bricks in Britain

VIENNA, May 9 (Reuters) - Wienerberger expects strong demand for its bricks in Britain to continue and has started to reduce stocks it had built up in preparation for Brexit, with the time of withdrawal from the EU still unclear, its chief executive said.

“We have a very good result (in Britain), sales are still very good,” Heimo Scheuch told Reuters in an interview on Thursday.

With Britain’s divorce date from the European Union still to be finalised, it makes more sense for Wienerberger to sell its products instead of storing them, he said. However, the uncertainties of the past months have helped the group to prepare for Brexit when it happens, he added.

Whenever the time will come for Britain to leave the European Union, “we will be ready”.

The Austrian group generated around 10 percent of its 3.3 billion euros ($3.69 billion) in group sales in Britain last year and operates 15 sites in its largest single market.

$1 = 0.8937 euros Reporting by Alexandra Schwarz-Goerlich, writing by Kirsti Knolle; Editing by Kirsten Donovan

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