StockMarketWire.com - Masonry products maker Forterra warned on profits as sales were hurt by a slowdown in construction and housing activity. The company said it now expected pre-tax profit to be modestly below last year's £64.8m.
The downgraded outlook was attributed to a recent weakening of activity, with brick and block volumes down in line with the overall market.
Key indicators such as UK national brick sales volumes, construction output, new housing starts, housing transactions and consumer confidence also pointing to further uncertainty in macroeconomic conditions, the company said.
At 9:17am: [LON:FORT] Forterra Plc share price was -25.75p at 273.25p
Story provided by StockMarketWire.com
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