Plaster shortage hammers BPB

BPB chief executive Richard Cousins said it could be another four months before Britain's plasterers and DIY fans can get back to work.

Builders' merchants have had gaps on their shelves for the past two months where bags of finishing plaster used to be.

This is blamed on a combination of explosive renovation-driven demand and production problems during a £7m expansion to increase output at BPB's factory at Barrow, Leicestershire, by a third.

Barrow will be at full throttle sometime in September, Cousins said, adding that the supply situation was beginning to stabilise. BPB shares fell 35p to 369p on the news.

The group makes half the plasterboard and most finishing plaster sold in Britain, and with the £243m purchase of James Hardie Industries four weeks ago became the world's biggest plasterboard maker and the US number three.

Profit before tax and exceptionals for the year to 31 March fell 6% to £153m on turnover 5% ahead at £166bn as US prices recovered in the second half. Second-half profits rose 50% to £81.1m. Earnings per share are 13% off at 21p although the final dividend is 2% to the good at 8.6p.