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Wienerberger cautious on growth in British residential construction

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Wienerberger cautious on growth in British residential construction

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VIENNA (Reuters) – Austrian building materials group Wienerberger <WBSV.VI> expects the British residential construction sector to stagnate or shrink over the next few years, its chief executive said on Thursday. Wienerberger has seen stronger demand in Britain this year than last year but it does not expect that trend to continue, Heimo Scheuch told a news conference in Vienna. “We do not assume that (the residential construction sector) will grow steadily in Britain, but that it will be rather stable or even decrease in the next few years,” Scheuch said. Britain is Wienerberger’s largest single market, generating around 10 percent of group sales. Construction activity in Britain slowed to an 11-month low in July due to political uncertainty and nervousness among businesses about Brexit. Growth in the housebuilding sector also cooled.

(Reporting by Kirsti Knolle; editing by Francois Murphy)
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