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LONDON - Forterra (NASDAQ:FRTA) plc (LSE:FORT), a leading UK manufacturer of clay and concrete building products, reported a 22% YoY increase in revenue to £124.1 million for the four-month period ended April 30, 2025.
The company cited strong performance in both its Bricks and Blocks and Bespoke Products segments.
The revenue growth was primarily driven by improved demand from the housebuilding sector, while repair, maintenance, and improvement (RM&I) demand remained subdued.
Forterra’s performance aligns with an improving market backdrop, as domestic brick despatches increased 17% YoY through March, according to the Department for Business and Trade.
Stephen Harrison, CEO of Forterra, stated, "We are encouraged by the positive start to the year and expect to continue to benefit from an improving demand environment whilst noting that the prior year comparatives become more challenging as the year progresses."
The company continues to implement selling price increases to offset cost inflation, which remains at normalized levels.
Forterra is actively managing production capacity to address customer demand, including steps to increase concrete floor beam production and preparations to utilize both kilns at its Desford facility simultaneously for the first time from Q4 2025.
Forterra’s net debt before leases stood at £88.4 million as of April 30, 2025, down from £118.5 million a year earlier, equating to 1.7 times EBITDA on a rolling 12-month banking covenant basis.
The company’s shares were up 0.32% following the trading update.
Despite the positive start to the year, Forterra maintained its full-year 2025 performance expectations, citing heightened global macroeconomic uncertainty.
The company remains well-positioned to benefit from continued market recovery, supported by recent strategic investments in additional manufacturing capacity.
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