Forterra is the UK's second-largest brick maker and leading manufacturer of concrete building products.
Forterra (FORT)
Biggest customers poised to bounce back most
Forterra’s FY23 (to 31 December) earnings were slightly higher than guidance, which was raised in January, with resilient pricing partly offsetting a steep fall in demand among its main end users, large housebuilders. Our estimates are broadly unchanged, other than reflecting a more conservative stance on the final dividend. Despite a cautious tone in the outlook statement, we believe the largest housebuilders may now rebound more strongly than smaller peers.
Read or download the full report here....
NOTE: Progressive's research is commissioned by the subject company under contract, and is freely available to the public and institutional investors. Progressive does not offer investors the ability to trade securities, and Progressive does not provide investment advice. Our publications should not, therefore, be considered an inducement under MiFID II regulations. See our terms and conditions, and our privacy policy here.