Britain’s second largest brick producer beat consensus and our estimates, buoyed by continuing growth in housebuilding. Management maintained its outlook for FY 2019E. We have trimmed our EBITDA forecast into line with consensus but nudged up EPS. Our belief that brick demand will continue to outstrip supply is supported by a slew of data indicating that housebuilding and home extensions are holding steady despite the Brexit furore.
13 Mar 2019
Steady state
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Steady state
Forterra Plc (FORT:LON) | 159 2.9 1.1% | Mkt Cap: 338.6m
- Published:
13 Mar 2019 -
Author:
Alastair Stewart -
Pages:
12
Britain’s second largest brick producer beat consensus and our estimates, buoyed by continuing growth in housebuilding. Management maintained its outlook for FY 2019E. We have trimmed our EBITDA forecast into line with consensus but nudged up EPS. Our belief that brick demand will continue to outstrip supply is supported by a slew of data indicating that housebuilding and home extensions are holding steady despite the Brexit furore.