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Jan 15 2019, 08:10 GMT
Forterra plc
Positive tone to trading update; little change to forecasts likely
- Sectors : Building products
- Companies : Forterra plc
DAVY VIEW
Forterra has indicated that results for 2018 will be in line with Board expectations. This follows Q4 trading which is described as “good” and the overall tone to the update is positive. We expect little change to current forecasts. The update indicates that the business overall is in good shape, with demand supported by the underlining need for new homes in the UK and a comfortable financial position. However, while the stock’s rating is not onerous, we believe it will struggle to re-rate in the near term given the huge uncertainty in the UK.
