Last checked at 26 Jan 2022 07:36
FY outlook confirmed with cost rises contained
Brick and concrete products manufacturer Forterra has confirmed it expects FY2021E results will be in line with management expectations as strong demand and price increases have offset input cost inflation. This should have a short-term impact on margins, but mitigated with increased revenue expectations. Looking to FY2022E and beyond, housebuilding volumes are predicted to keep growing, while we believe the Group's pricing power will be supported by industry-wide brick inventories falling to a 23-year low. |
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