Published on: March 10, 2021
“Sustained” recovery. “Sustainable” vision.
Brick and concrete products group Forterra’s FY2020 results nudged ahead of its previous guidance, which had been raised twice, with a strong rebound in revenue and profit in the second half partially offsetting the impact of the lockdown in H1. The “much improved” market has continued into the current year and, despite short-term uncertainty, the Group points to a “sustained recovery”. It is also extending its sustainability drive with a target of cutting carbon by a third. We are maintaining our FY2021E profit forecasts for now, but believe there may be scope to upgrade them later.
