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Manufacturing orders strongest on record, but supply issues continue to bite
Brick sales volumes up at Forterra
Stephen Harrison, Chief Executive of Forterra plc, said: “The strong trading seen in the both the housebuilding and repair maintenance and improvement (RM&I) markets in first half of the year continued into the second half. As expected, we encountered significant pressures across our supply chain in the period, although, due to the agility of our operational management, we have been successful in limiting any disruption.
“We also experienced meaningful input cost inflation, which has had a short-term impact on margins, however we are mitigating this through significant selling price increases. Notwithstanding these factors, we continue to anticipate delivering a full year result in line with management’s expectations, with higher than expected revenues offsetting the increased cost base.
“Heading into 2022 we are optimistic about the continuing buoyant demand for our products, underpinned by favourable market fundamentals. With the brick capacity uplift provided by the new Desford brick factory now only a year away, and with the Wilnecote project increasing our presence in the commercial and specification market from 2023, we are confident that group performance will continue to strengthen.”
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Gateley “delighted” with its performance as revenues rise
Gateley, the legal and professional services group, is “delighted” with its strong performance, both in terms of activity levels and fee generation, during the six months ended 31 October 2021.
According to a trading update ahead of Gateley’s half year results, revenue for the period has grown by 23% and is expected to be not less than £62m.
Underlying adjusted profit before tax meanwhile is not less than £8.1m for the period, compared with £7.5m for the prior period.
Rod Waldie, Chief Executive Officer of Gateley, said: “Our long-established and resilient business model, enhanced by an increasing range of connected services offered to clients via our Platforms, and our embedded ‘one-team’ culture have been the driving force behind another strong financial performance from Gateley.
“On behalf of the Board, I thank our incredible people for their ongoing hard work, commitment and can-do attitude. We are excited by the wide range of opportunities that are presenting themselves to the Group and look forward to continuing to grow the business, both organically and via acquisition, in line with our stated strategy.“