Published on: November 22, 2022
Forecasts maintained amid ‘robust’ trading
Leading UK brick and concrete products manufacturer Forterra has confirmed FY22E guidance in today’s trading update, which highlighted ‘robust’ trading for the 10 months to 31 October. We have maintained our FY22E adjusted PBT at £69.1m. We believe that recent sales weakness highlighted by housebuilders could have only limited impact due to the ultra-low inventory levels in the UK brick industry.