Published on: March 25, 2020
Coronavirus risks prompt business suspension
Major brick and building products manufacturer Forterra has announced it is to suspend all business operations as soon as possible until further notice in response to the Covid-19 pandemic. The group has taken immediate actions to protect the group’s liquidity such as cutting costs and preserving cash, including suspending the final dividend for FY 2019. It is unable to provide meaningful guidance on future earnings and we have, accordingly, withdrawn our forecasts. However, we believe the company’s financial strength and actions it is taking will allow it eventually to return to growth, helping to address Britain’s housing shortage.