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ForterraAnnouncement

24/01/2024 07:30

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RNS Number : 7464A  Forterra plc  24 January 2024

 Profit guidance raised despite sharp sales fall

Forterra's FY23E trading update for the 12 months to 31 December guides to
 adjusted EBITDA 'slightly ahead' of its expectations despite brick volumes
 falling by over a third during the year. We have raised our adjusted PBT and
 EPS estimates for FY23E and introduced forecasts for FY24E taking our cue from
 the cautious tone in the outlook statement, which cites uncertainties ahead of
 a general election. However, we suggest Forterra's large housebuilding
 customers could outperform this view.

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