Published on: January 16, 2019

Cashflow beats expectations (yet again)

Forterra’s year-end trading statement confirmed results are expected to be “in line” and the outlook for 2019 appeared to be benign. Once again, net debt declined faster than expected – a regular feature since the company floated in April 2016. We are not changing estimates, other than nudging down debt. We believe that increasing housing construction, across all tenures, and a constrained and consolidated supply base should continue to underpin prospects.

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