Forterra Reports Rise In Sales In Half-Year Results

UK brick manufacturer Forterra has reported a 10.6% rise in sales in its half year results for the six months ended 30 June 2018.

The company said its acquisition of pre-cast concrete business Bison in 2017 helped to boost sales, with profit before tax also rising 2.9% to £32.3 million due a good performance from Bricks & Blocks and a lower finance cost. In addition, revenue increased from £162.7m to £180m.


Stephen Harrison, Chief Executive Officer, said: "The Group delivered a solid performance in the first half, supported by a good result from the Brick and Block product lines.

"Continued levels of activity from the new build single unit residential market lead us to anticipate a Brick and Block performance in line with our expectations for the second half. The outlook for Bespoke Products is predicated on the expected recovery of precast sales and the conversion of the order book into deliveries as that segment of the market recovers. As a result we anticipate the Group's profit before tax for the full year to be in line with the Board's expectations."

(LM/MH)