Forterra’s £140m investment programme has expanded its brick manufacturing capacity by 15%. Credit: Baloncici via Shutterstock.

Forterra, a UK-based clay and concrete building products manufacturer, has reported year-to-date revenues dipped by 5% compared to 2023.

In its trading update for the four-month period ending 31 October 2024, the company’s financial performance remained steadfast despite challenging trading conditions, with adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) broadly in line with the board’s expectations.

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Brick dispatches stayed consistent with the previous year while demand for concrete products has seen an uptick.

Forterra said it successfully maintained pricing discipline and robust cost control measures. As a result, the board is upholding its full-year expectations for adjusted EBITDA at approximately £50m ($64.10m).

Strategic investments continue to be a focus for Forterra, with the commissioning of the UK’s first large-scale brick slip manufacturing facility in Accrington.

Forterra has ensured adequate inventory levels to meet customer demand and is poised to increase output efficiently as market conditions evolve.

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In anticipation of modest cost inflation in 2025, the company has secured approximately 80% of its energy needs for the year and is proactive in managing future coverage. Price increases have been announced for 2025, with negotiations currently underway with customers.

The company’s strategic positioning is further strengthened by a £140m investment programme that has expanded brick manufacturing capacity by 15% and improved efficiency.

Forterra is well-positioned to capitalise on market improvements, bolstered by government policies aimed at increasing housing supply and the potential for enhanced affordability due to decreasing interest rates.

Forterra CEO Neil Ash said: “The group has delivered a solid performance since June and, despite trading conditions remaining challenging throughout the period, the board maintains its full-year expectations for the year.  

“Our strategic investments in Desford, Wilnecote and Accrington address previous capacity constraints and provide us with improved efficiency relative to the last turn of the cycle.”