DoD tests AI models that make it easy to switch from vendors like Palantir
LONDON - Forterra (NASDAQ:FRTA) plc, a manufacturer of masonry products, announced a decline in its adjusted profit before tax (PBT) for the fiscal year 2024, which fell by 29% to £22.1 million amidst a challenging year. Despite the downturn, the company’s financial performance surpassed analyst expectations by 11%, bolstered by a robust recovery in the fourth quarter. The positive momentum is evidenced by a 17% year-over-year increase in brick dispatches during the same period.
While Forterra has not modified its forecasts for the fiscal year 2025 at this early stage, the company’s management suggests that the current estimates may be conservative. This outlook is supported by the strong finish to the previous year, a promising start to the current year, and a series of positive market indicators. Additionally, the company anticipates benefiting from the government’s recent planning reforms, announced on March 11, 2025, which are designed to expedite the building process.
The company’s performance and potential upside come in the context of sweeping planning reforms aimed at stimulating the construction sector. These reforms could enhance Forterra’s business environment, potentially leading to increased demand for the company’s brick and masonry products.
Progressive, an FCA-authorized equity research and investor engagement firm, provided the analysis of Forterra’s financial results. The firm, which boasts a team of 15 analysts with an average of 20 years of experience across various sectors, offers institutional-grade research and facilitates connections between companies and investors.
The information in this article is based on a press release statement from Forterra plc. It is intended to provide investors with a factual update on the company’s recent financial performance and outlook without any endorsement of the claims or promotion of the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.