Updates

Forterra - Management upgrade expectations

October 2021

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.

The shares hit their highest levels since before the pandemic after Forterra upgraded full year expectations.First half revenue rose 47% on 2020 with pretax profit up 17.4%. A strong recovery in new housing as well as RMI drove a 240% increase in Bricks & Blocks EBITDA to £37.8m, with EBITDA margins up from 12.3% to 26.1%, albeit still down on the 28.9% in pre-pandemic 2019. The bespoke products side posted a small £0.8m loss.The completion of the new Desford factory, which will increase brick capacity by 16% and EBITDA at least £15m, is on track to deliver by 2025 and by the year-end it will have spent £70m of the £95m budget.A brand new modernising project at its Wilnecote brick facto ...

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Forterra (January 2023)

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Forterra (April 2022)

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