Published on: January 22, 2020
Resilient Q4 supports FY 2019 outlook
Leading brick and masonry products manufacturer Forterra has confirmed it expects to deliver underlying PBT in the FY to December 2019E in line with expectations, after a resilient performance in Q4 against continued political and economic uncertainty in the UK. It now expects the challenging market conditions experienced in H2 2019 to “gradually improve” but anticipates that performance in H1 2020E will be below the level achieved in H1 2019. We have taken a conservative stance to our FY 2020E estimates, but believe the fundamentals remain strong, supported by housing and infrastructure.