But firm says RMI sector stuck in doldrums
Brickmaker Forterra said increased demand in the new build housing sector has meant revenue so far this year is up 16% on last time.
In a trading update this morning, the firm said income in the year to date was up to £336m and added: “New build housing continues to be our strongest market segment with RM&I remaining depressed.”
It said it had completed the closures of its Bison Bespoke and Formpave operations which it has previously said will cost it £4m.
It added that a new factory at Wilnecote factory in Staffordshire was nearing completion with the first bricks expected to be produced ahead of the year end. Forterra said the factory “will offer an enhanced range of bricks for the premium commercial and specification market, increasing our exposure to this attractive segment”.
The firm is expected to release its full-year results next spring.
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