Forterra plc is a leading producer of manufactured masonry products. The Group's core clay bricks and concrete blocks are primarily sold into the new build housing and residential RMI markets. The Group also produces a complementary range of bespoke building products, the most significant being engineered precast concrete flooring solutions. It's products have a broad customer base, comprising builders' merchants, residential homebuilders, specialist brick merchants, contractors and subcontractors and the Group's end market exposure can be divided between the residential new build, residential RMI and commercial construction markets.

Proactive investor - Forterra downgraded to 'neutral' by Citigroup after good run over the last year
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11:23 23 May 2018
Trading this year has been affected by the severe weather. This led to lost production and delays in construction activity, which affected demand for its products, particularly during March.

A planning application for redeveloping the site at Desford in Leicestershire is being finalised
Following yesterday's trading update from Forterra PLC (LON:FORT), Citigroup says the risk-reward balance for the bricks maker now looks less compelling.
The US bank has downgraded the stock to 'neutral' despite increasing the price target to 350p; the shares fell 5.5p to 327.5p following the downgrade.
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Citi said the trading update looked reassuring despite the dodgy weather conditions Britain has had this year.
The group's plans to increase brick production capacity by around 16% by 2022-23 is likely to support medium term volume growth while a reduction in operating costs from a new, larger facility should drive further margin improvement.
“However, capacity constraints limit near term growth prospects and we downgrade the stock to Neutral as we believe earnings momentum over the next three years is likely to be less exciting,” Citi said.

Half year report

08:10 23/11/2018
Broker Forecast - Peel Hunt issues a broker note on Forterra Plc
Peel Hunt today reaffirms its buy investment rating on Forterra Plc (LON:FORT) and cut its price target to 295p (from 350p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk