Published on: July 27, 2023
Resilient H1, scope for ongoing improvements
Forterra’s first-half results to June and FY23E guidance were largely outlined in its 11 July trading update. The outlook for FY24E remains uncertain; but even with no improvement in housebuilding volumes, the group believes profitability could be supported by its own initiatives and a lower overhang of bricks. We suspect, however, that the underlying market could improve.