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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Forterra Plc | 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 | |
---|---|---|---|---|---|---|---|---|---|---|
-2.00 | -1.28% | 154.20 | 153.80 | 154.40 | 155.20 | 153.40 | 153.40 | 83,516 | 13:14:55 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Concrete Block And Brick | 455.5M | 58.8M | 0.2849 | 5.41 | 318.27M |
TIDMFORT
RNS Number : 1437X
Forterra plc
22 November 2017
22 November 2017
Forterra plc
Trading update
Forterra plc, a leading UK producer of manufactured masonry products, provides this trading update covering the period from 1 July to 31 October 2017.
Trading in the period has continued to be underpinned by good activity levels in the new build residential sector, resulting in double digit growth of brick and aggregate block volumes for the ten months to October 2017 compared with the same period last year. Overall Group revenue for the ten month period was 12% ahead of last year after excluding the Bison acquisition.
The Group completed the acquisition of the trade and certain assets of Bison Manufacturing Ltd in September 2017. The integration of the business, which includes the transfer of certain product lines between the two existing Forterra precast concrete facilities and the new Bison facility in order to improve efficiency and maximise potential, is progressing to plan. The Group's precast concrete business has been rebranded as Bison Precast, recognising the strength of the Bison brand in the marketplace.
Following the completion of the investment project at the Group's Claughton brick facility in Lancashire resulting in an increased capacity of over 5 million bricks per annum (c11% of the existing plant capacity), production commenced in the second half in line with plan. A kiln at the nearby Accrington facility has been relit and the plant is expected to build up to full production utilising both kilns during 2018.
The Group continues to generate a strong level of operating cashflow and this, after the payment of GBP20m for the Bison acquisition and dividends of GBP13.8m, resulted in net debt of GBP87.2m at 31 October 2017 compared with GBP92.3m at the start of the year.
Based on the good trading performance in the year to date and the forward order book, the Board's expectations for the full year remain unchanged.
Enquiries
+44 (0) 1604 707 Forterra plc: 600 Stephen Harrison (CEO) Shatish Dasani (CFO) FTI Consulting: +44 (0) 20 3727 1340 Richard Mountain Nick Hasell
Further information relating to the Company and its group can be found at www.forterraplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 22, 2017 02:00 ET (07:00 GMT)
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