Share Name Share Symbol Market Type Share ISIN Share Description
Forterra LSE:FORT London Ordinary Share GB00BYYW3C20 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +5.00p +1.60% 317.50p 315.00p 316.00p 316.00p 311.00p 312.50p 348,510 16:35:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 331.0 59.3 23.8 13.3 636.40

Forterra Share Discussion Threads

Showing 26 to 50 of 50 messages
Chat Pages: 2  1
DateSubjectAuthorDiscuss
18/4/2018
16:08
A significant breakout on the chart here I see. Awfully undervalued forward valuation PER of leass than 12. For such a quality business with rising broker forecasts I'd expect much higher rating.
thorpematt
08/3/2018
16:21
Phillis, That was my rationale/reason for investing 2 years ago. It applied then, applies now, and I find it difficult to see that changing anytime soon. Possibly not in my lifetime. Rhetoric aside, the current and future governments of whatever label will remain under pressure to step up house building. And as you imply, houses need bricks.
damanko
06/3/2018
09:29
what is good for housebuilders must surely be good for brickmakers?
phillis
16/1/2018
17:06
Don't think so, but the best thing you can do is call the investor relations number Chart looks like it might go for a triple bottom @278p
return_of_the_apeman
15/1/2018
14:34
Daft question perhaps but anyone know if this company had direct link/contracts with Carillion?
jamieb73
09/1/2018
18:16
Danny, hello. The risks? Same as any other investment on the LSE... Just a small company, very decent dividend, in a government sponsored growth industry.
damanko
08/1/2018
11:12
Couldn't get through the 300 barrier
return_of_the_apeman
03/1/2018
11:28
Quite like the look of this one, especially with the mentioned 300k house build target. Any key risks that longer-term followers perceive that I might have missed?
dannyb7
18/12/2017
08:44
It is reported that Woodford Investment Management has increased its share in FORT. It seems to indicates that the result is going to be good? hence his increasment? [...]
compnews1
22/11/2017
10:06
Yes, decent TS - no drama, just steady as she goes. With the UK government pushing for 300K new build houses each year, Forterra should be set fair. Also Bison looking okay, precast flooring in particular is a growth market, saving construction outfits time & labour costs. See link below: hxxp://www.bison.co.uk/blog/bison-acquisition-doubles-precast-production/
damanko
22/11/2017
08:39
WE NEED TO SEND 3M GRUNTS BACK OVERSEAS THEN THE HOUSING PROBLEM WILL SOLVE ITSELF!
o1dsmokie
22/11/2017
08:36
Good TS. I like companies that deliver as promised and FORT continues to do so. Despite the investments made and the clsures the cash generation has still been strong enough to REDUCE debt. For me it seem logical that without those "headwinds" effecting profits and cash production AND with the additional capacities from this year's investments the future is bright. A nice opportunity of late therefore to buy in on the dip. Fundamentals are strong. Chart looks to have some upside I think.
thorpematt
13/11/2017
11:31
Has the news about Paul Lester really shaken up this stock?The price has just been dropping since yet the company still seems very strong with good future prospects.
tyranin
01/8/2017
10:10
Some relevant stuff from the results statement: EARNINGS PER SHARE AND DIVIDEND Earnings per share before exceptionals was 12.6 pence per share, an increase of 5.0% over the prior half year. This reflects the higher profit before tax and also the benefit of a lower effective tax rate of 20.1% compared with 20.9% in 2016. The Board has declared an interim dividend of 3.1 pence per share, to be paid on 12 October 2017 to shareholders on the register at 22 September 2017. The interim dividend for 2016 of 2.0 pence per share was based on post-IPO earnings. CASH FLOW, BORROWINGS AND FACILITIES Operating cash flow before exceptionals for the half year of £31.9m was £7.0m higher than the first half of 2016 due mainly to a better working capital performance. Inventories reduced by £1.8m since the start of the year and there was a good reduction in debtor days to 35 compared with 39 at December 2016. Capital expenditure of £3.0m was lower than the comparative period due to a deferral of some expenditure into the second half. Net debt at 30 June 2017 was £69.4m, a reduction of £22.9m from the start of the year due to the strong operating cash generation of the business. Net debt to EBITDA (calculated with reference to the last twelve months of earnings before exceptionals) reduced further to 1.0 times at 30 June 2017, comfortably below the maximum set by the banking covenant of 3.5 times. For this purpose, the net debt excludes capitalised finance costs in line with the calculation required by the banking covenant. The Group's existing debt facility, which was agreed as part of the IPO, was successfully amended in July 2017 and replaced by a new RCF-only facility of £150m with a group of major international banks. The term of the facility has been extended by a year to 2022. In addition, an accordion facility of £50m has also been agreed. The financial covenants are unchanged but there is a reduction in the interest cost under the new facility with interest set at LIBOR plus a margin of 125 to 225 basis points depending on the leverage. The new facility will provide a more efficient and flexible form of funding than the previous structure of a large term loan and much smaller RCF. The Group has no defined benefit pension scheme in place, with the legacy liabilities of the previous pension scheme left with the HeidelbergCement Group when the business was divested. BRICKS AND BLOCKS Revenue in the first half increased by £15.0m (13.8%), reflecting good demand from the new build residential market and the relatively weaker comparator. Brick volumes were up by double-digit percentage over the comparative period and soft mud volumes in particular were strong. The blocks business also performed well, with aggregate blocks volumes increasing strongly during the period, facilitated by additional shift and capacity utilisation at the Oxfordshire plant in particular. Whilst aircrete block sales volumes were lower than prior period, the business has performed more consistently in the first half of 2017, assisted by progress made in securing a number of alternative raw material supply sources. Production volumes of aircrete were higher than prior period and we have rebuilt inventory levels to maintain good customer service. EBITDA before exceptionals of £35.7m was up by £0.9m against the comparative for last half year. This was due to increased volumes and price rises which offset higher input costs for raw materials and energy. The result was adversely affected by sales mix and planned cost increases made since IPO as described above. Repair costs at our Measham facility were higher than last half year due to repairs at that plant being carried out in late 2015 to coincide with the shut-down for a major improvement project. The Group continues to invest in brand awareness and during the period, a focused 'London Brick' marketing campaign was launched, celebrating the heritage and 140 year anniversary. Whilst brick inventories reduced in the period, the Group continues to maintain adequate levels of inventory and uses its own distribution fleet to provide a good level of customer service. The project to replace the dryers at the Claughton facility in Lancashire has been completed to schedule, resulting in higher efficiency and a capacity increase of over 5 million bricks (c.11%). The total cost of the project is expected to be £3.3m, £0.2m below the initial estimate. The kiln has been re-lit over recent weeks and production will resume in the second half.
damanko
01/8/2017
10:02
A little over a year since the vulture capital bods released it onto the LSE, and so far, so good. The yield on my purchase price is more than decent. This remains a long term hold for me, given what is happening all around us, I can see further upside. Especially as Lone Star sold its remaining shareholding/interest a few months ago, making for a larger free float. Now over the half billion mark in terms of market cap, so promotion to the FTSE 250 may well happen if things carry on as they are. Forterra seems to be under the radar - private investor wise for some reason, which has puzzled me since flotation last year. That is in no way a ramp, simply a fact.
damanko
01/8/2017
08:35
Been buying myself recently. Decent results today growth in revenue whilst reduction in overheads looks fine to me and dividend increased by 50%, decent cashflow too. woody
woodcutter
12/5/2017
16:24
Thanks for that BBD. To quote directly the relevant stuff from the article: "Another new holding is Forterra, a UK brick manufacturer. The UK brick industry has been structurally challenged for many years, with surplus capacity. As a result, the domestic industry has consolidated and Forterra is one of the last remaining players with a solid market position and a low cost base. The weakness in sterling since last summer has meant that importing bricks from Europe is no longer as economic and the long-term prospects for Forterra now look very attractive. We believe the company is well-positioned to benefit from steady growth in the UK construction industry in the years ahead and took the opportunity to buy a meaningful stake in the business at what we consider to be a very appealing valuation." The link you posted is dated today, 12/05.
damanko
12/5/2017
13:02
Gets a mention here Https://woodfordfunds.com/words/insights/april-2017/?utm_source=insight-alert&utm_medium=email&utm_campaign=april-2017
bigbigdave
02/5/2017
15:35
Woodford just bought another 734k shares.
bruceylegs
28/4/2017
16:37
Damanko - belated thanks for the link.
bruceylegs
24/3/2017
09:43
Bruce, See attached link, explaining Forterra's international footprint. Hope this helps. hxxp://www.prnewswire.com/news-releases/hanson-building-products-announces-company-name-change-to-forterra-300161004.html
damanko
23/3/2017
14:57
Damanko do you know if FORT's manufacturing is all UK based? It appears so having skimmed their prospectus. If so, might be considered a strength with Brexit looming, ie., limited exposure to increasing costs associated with weak/uncertain GBP.
bruceylegs
22/3/2017
09:28
Hello K, As far as I'm aware the answer to your question is: Ibstock. See link below. If it were listed on the LSE I would have considered investing a similar amount to my long term buy in Forterra... It seems reasonable to assume that both companies should prosper over the next few years. hxxp://www.ibstock.com/ibstock-family/
damanko
20/3/2017
22:27
Hi Damanko, If these are the second leading brick maker, Who is the leader? Thx
kimball808
07/3/2017
09:19
Getting ready for the next leg up.
rafieh
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