The first signs that UK brick stocks appear to be declining appear in today’s building materials statistics. Along with (in our view, overdone) Brexit fears, we believe rising stock levels had been one of the reasons for Forterra’s weak share price performance since its April IPO. Although this data is only an early indicator of supply and demand coming more into equilibrium, it adds to our strong Buy case for the UK’s number two brick manufacturer, which appears still under
03 Aug 2016
Encouraging brick industry inventory data
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Encouraging brick industry inventory data
Forterra Plc (FORT:LON) | 158 -2.5 (-1.0%) | Mkt Cap: 336.2m
- Published:
03 Aug 2016 -
Author:
Alastair Stewart -
Pages:
3
The first signs that UK brick stocks appear to be declining appear in today’s building materials statistics. Along with (in our view, overdone) Brexit fears, we believe rising stock levels had been one of the reasons for Forterra’s weak share price performance since its April IPO. Although this data is only an early indicator of supply and demand coming more into equilibrium, it adds to our strong Buy case for the UK’s number two brick manufacturer, which appears still under