StockMarketWire.com - Masonry products maker Forterra swung to a loss in the first half of the year as a pandemic-led fall in activity dented revenue.
For the six months ended 30 June 2020, the company reported a pre-tax loss of £23.3m, compared with a rpfoit of £32.7m con-year, as revenue fell by 37% to £122.4m.
The loss included exceptional items of £21.0m.
'The board does not anticipate declaring a dividend for the financial year 2020 with our current strategy focussed on maintaining a strong balance sheet whilst continuing with the construction of our new Desford brick factory,' the company said.
Baring no further COVID-19 driven disruption and a continuation of current trading conditions, the company said it expected full year earnings (EBITDA) before exceptional items, to be in the range of £27m-£32m, compared with £82.7m in the prior year.
At 9:06am: [LON:FORT] Forterra PLC share price was +18.3p at 188.3p
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.