Firm says increased demand from housebuilders behind rise
Brickmaker Forterra said income in the first four months of the year was up by more than a fifth to 拢124m.
The firm said the 22% rise was down to increased demand by housebuilders but the repair and maintenance market remained subdued.
In a trading update this morning, the firm confirmed it was introducing price hikes and added: 鈥淲e continue to implement the necessary selling price increases to offset cost inflation, which remains at normalised levels in line with our expectations.
鈥淲ith demand recovering and inventories reducing we are actively managing production capacity to ensure we continue to address customer demand.鈥�
Forterra said it was gearing up to increase brick production at its plant in Desford, Leicestershire, with both kilns being fired up for the first time by Q4 this year.
The firm will release its interim results on 29 July.
No comments yet