May 10, 2017 / 6:45 AM / 2 months ago

Wienerberger cautiously optimistic on residential construction in UK

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Logos of Wienerberger, the world's biggest brick maker, are pictured at its headquarters in Hennersdorf, Austria, February 9, 2016.Heinz-Peter Bader

VIENNA (Reuters) - Austrian brickmaker Wienerberger said its expects a slightly positive development of residential construction in Britain to continue in the second half of the year.

"From today's perspective we anticipate that residential construction in Britain will be slightly above the previous year's level (in the second half of the year)," the group said in its first-quarter earnings report published on Wednesday.

Rising demand in Britain is currently supported by government aid programs for new housing construction, the group said.

Britain is Wienerberger's largest single market, contributing around 10 percent of annual group sales. Last year, revenue in the country fell 5.1 percent, strongly influenced by the fall of the pound after Britain voted to leave the European Union.

Reporting by Kirsti Knolle; editing by Francois Murphy

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