Forterra Trading Through End Of 2020 Exceeds Internal Forecasts
Tue, 26th Jan 2021 10:33
(Alliance News) - Forterra PLC said Tuesday the strong trading through seen through September and October continued through to the end of 2020.
The manufacturer of masonry building products noted this exceeded its own expectations.
Forterra's factories remain open and are continuing to supply customers.
Brick and Block revenue for November and December combined were 6% higher year on year, taking 2020 revenue to about GBP290 million, down 24% from GBP380.0 million in 2019.
As a result, Forterra expects to report earnings before interest, tax, depreciation and amortization and pretax profit of about GBP37 million and GBP16 million, respectively. This compares to pretax profit of GBP58.2 million in 2019.