We have increased our FY2021E estimates again after the building materials producer pointed to a “modest upgrade in previous expectations” in this morning’s strong HY results. This followed guidance in May that this year’s performance would be “materially ahead”. The Group has moved into net cash and has raised its dividend pay-out ratio despite ongoing expansionary capex. The results were boosted by stronger than expected demand in housebuilding and home improvements, but the Group noted rising ....
29 Jul 2021
Estimates raised again amid housing surge
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Estimates raised again amid housing surge
Forterra Plc (FORT:LON) | 160 -3.8 (-1.5%) | Mkt Cap: 340.1m
- Published:
29 Jul 2021 -
Author:
Alastair Stewart -
Pages:
8
We have increased our FY2021E estimates again after the building materials producer pointed to a “modest upgrade in previous expectations” in this morning’s strong HY results. This followed guidance in May that this year’s performance would be “materially ahead”. The Group has moved into net cash and has raised its dividend pay-out ratio despite ongoing expansionary capex. The results were boosted by stronger than expected demand in housebuilding and home improvements, but the Group noted rising ....