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Forterra - Brick maker beating expectations

July 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • Forterra
  • Price:
  • 280p
Brick manufacturer Forterra has reported it is trading ahead of expectations with revenues in the four months to April up 25% year-on-year with brick volumes ahead 6% and the rest from price rises (16% in January and c. 12% in April) to cover cost inflation. Around 85% of its energy requirements have been secured for 2022.Encouragingly, its flagship expansion project at Desford is on track to be commissioned by the year end with full capacity utilization by 2025, increasing brick capacity by 16%. Numis says that will add c. 30% to EBITDA (on a FY’22 base).Elsewhere, component shortages have delayed the Wilnecote refurbishment project. Numis has left forecasts unchanged with eps to rise from 17.3p to 22.9p this year, lea ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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