We experienced lower sales volumes during Q3 compared to the same period last year as we continue to see construction activity weaken in two of the largest construction sectors: private new housing and private RMI.

Residential forecasts of further risk in relation to housing starts and completions remain a concern, given the chronic housing issues the UK faces, from the shortage of new homes to the requirement to continue to improve our aging housing stock.

While more interest rate rises are now looking less likely, longer-term forecasts of further market decline in 2024, albeit in low single digits, give cause for concern in the short term. Unlocking economic growth without clear Government policies or growth plans only leads to uncertainty for business, and this must be addressed by UK policy makers.

In these uncertain times, we remain committed to providing customers and construction partners with a ‘golden thread’ of product information to ensure that we support them with complete transparency. It’s crucial that we do our utmost to help our customers build better.

We were delighted in Q3 to see our non-loadbearing metal stud plasterboard partition systems, including shaft wall, become one of the first products on the UK market to carry the Code for Construction Product Information (CCPI) mark.

The CCPI was initiated by the Construction Product Association (CPA) as a direct result of Dame Judith Hackitt’s findings in her review of Building Regulations and Fire Safety. It aims to provide an assurance to product users that the product information is clear, accurate, accessible, up-to-date, and unambiguous.

We continue to work proactively with the CCPI to reinforce our commitment to higher standards in building safety through higher standards in construction product information and product claims.

Overall, the industry is optimistic about the longer term, showing continued resilience in adversity. However regulation of the labour market, the path to net zero and decarbonisation plans are three key areas that require constant focus. It is also critical that we position and underpin the crucial role the building materials sector can play in driving growth back into the economy.