We experienced a similar trend across Q3 to that of Q2, with an overall softer market than was forecasted, as the industry faced a more challenging quarter.

The ripple effects of economic uncertainty continue to have an impact. The Bank of England’s base rate cut to 5% in August was a welcome adjustment, aimed at providing some relief across our principal sectors. We were encouraged to see a further drop more recently. However, the wider economic instability has made it difficult to gauge the near to mid-term outlook. Financial pressures, subdued consumer confidence and the on-going challenge of insolvencies all contribute to an ongoing unsettled environment.

As a key supplier nationally to builders’ merchants, we are acutely aware of the on-going pressures in the market, and we continue to work actively to support our customers in managing the impact of these challenges. We are committed to providing flexibility in supply chain operations, to ensure continuity and reliability for all the sectors we supply, amid fluctuating demand levels. Operationally, we are continuing to invest in our distribution network to position ourselves strongly as the market begins to recover moving into 2025.

A good example of this is the recently announced new distribution centre in the North of England, which stocks British Gypsum’s core range of products, alongside other Saint-Gobain product ranges. The centre further strengthens our existing service offering and allows us to expand and explore new opportunities to maximise our logistics capacity in a more sustainable way.

Overall, we remain optimistic that the market will begin to improve over the coming months. There will undoubtably be a continuing focus on balancing economic pressures, skills shortages and the path to net zero, but we look forward to playing our part in supporting the industry and the supply chain through these evolving conditions. Working collaboratively, we believe we can help to drive change by encouraging others in the sector to adopt innovative practices that are not only cost-effective but also environmentally responsible.