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Forterra PLC - Northampton, England-based building product manufacturer - Expects results for six months ended on June 30 to be broadly in line with expectations against a backdrop of challenging trading conditions. Expects half-year revenue of about £183 million, down 18% from £222.8 million the year before. Adjusted earnings before interest, tax, depreciation and amortisation are expected to be about £30 million, down from £46.1 million the year before. Adjusted pretax profit is expected to be about £18 million, down from £44.2 million the year before. Forterra says demand for its products for the rest of the year remains subject to significant uncertainty with rising interest rates widely expected to adversely impact the demand for new homes for the foreseeable future. In March, the firm posted revenue of £455.5 million for 2022, up 23% from £370.4 million a year earlier. Pretax profit was £72.9 million, up 28% from £56.8 million Current stock price: 155.50 pence each, down 4.1% on Tuesday morning in London 12-month change: down 41% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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