Tuesday, August 16, 2022

Trading “stronger than expected” in first four months of the year at Forterra

Forterra, the Northamptonshire-based producer of manufactured masonry products, has witnessed stronger trading than expected in the first four months of the year.

According to a trading update, strong demand from both the new build and the repair, maintenance and improvement (RM&I) markets in the period resulted in better than anticipated trading.

Group sales revenues were approximately 95% of the comparable period in 2019, with Bricks and Blocks revenues up 2.5%. Bespoke Products revenues were lower following the  decision to reduce production of hollowcore concrete flooring. Margins in the period recovered to close to 2019 levels.

Forterra said: “While some uncertainty remains as to any effect of the Government reducing its support for the housing market, as well as the ongoing impact of the pandemic on the wider economy, overall customer and market sentiment remains positive and the medium term fundamental attractions of Forterra’s key markets remain in place.”

It is now anticipated that the group’s performance for the year will be materially ahead of the board’s previous expectations.

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