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Forterra lifts guidance on performance amid ongoing momentum
StockMarketWire.com
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Masonry products maker Forterra upgraded is guidance on profit as strong trading seen in September and October had continued through year-end.
For the year ended 31 December 2020, Accordingly, adjusted EBITDA, stated before exceptional items, were expected to be approximately £37 million, an increase on the previous guidance of at least £34 million, while adjusted pre-tax profit was expected to be £16 million respectively.
'We are pleased to report that the strong trading seen through September and October continued through to the end of the year, exceeding our expectations,' the company said.
'Brick and Block revenues for November and December combined were 6% higher than the corresponding prior year period taking full year group revenues to approximately £290 million,' it added.
The company said it intends to issue its full year results announcement on 9 March 2021.
At 8:37am: (LON:FORT) Forterra PLC share price was 0p at 221.5p
Story provided by StockMarketWire.com
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