Progressive publishes new research

RNS Number : 8941G

Forterra plc

29 July 2021

 

Estimates raised again amid housing surge We have increased our FY2021E estimates again after the building materials producer pointed to a "modest upgrade in previous expectations" in this morning's strong HY results. This followed guidance in May that this year's performance would be "materially ahead". The Group has moved into net cash and has raised its dividend pay-out ratio despite ongoing expansionary capex. The results were boosted by stronger than expected demand in housebuilding and home improvements, but the Group noted rising costs could impact the second half.

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