Forterra plc ("Forterra")

New Progressive research note

Progressive Equity Research has been commissioned by Forterra to produce ongoing research coverage.  A new research document has been published this morning, and is freely available to UK investors.   

Research note summary:

'Encouraging start' to year - upgrades later?

Forterra has issued an upbeat AGM statement, pointing to a 22% Y/Y increase in revenue for the first four months of FY25 (our estimate for the full year, +8%), with 'strong' performances in both divisions driven by an uplift in housebuilding. Britain's second largest brick manufacturer is 'encouraged by the positive start to the year', but 'at this stage in the year' its expectations remain unchanged. We view this as conservative, with the risk on the upside if current momentum is maintained.

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