- Masonry products maker Forterra said it was taking steps to restructure the business amid weaker demand that could lead to 225 job cuts as revenue slumped 39% in the five months through May on-year.

The actions would mostly lead to job losses from the company's concrete products facilities.

The sales plunge in the five months through May, was paced by an 86% and 62% slump in sales in March and April respectively.

Daily despatches of the company's brick & block products had now recovered to approximately 50% of corresponding 2019 levels as its customers gradually reopened their operations.

'Despite the economic circumstances created by Covid-19, the Board remains confident that the Group is well positioned to take advantage of the attractive long-term market fundamentals in order to continue delivering sustainable shareholder value,' Fonterra said.

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