Forterra
FORT · Main Market · Construction and Materials · mcap £290m · 145.2p
Forterra makes bricks, concrete blocks, precast concrete and related products, mainly for UK housebuilders and the repair and improvement market. It runs factories such as Desford and Wilnecote.
| Date | Type | Announcement | Day |
|---|---|---|---|
| 30 Sep 26 | Board Committee membership changes
Katherine Innes Ker steps down as Remuneration Committee Chair after nine years; Gina Jardine and Aysegul Sabanci assume new committee roles. |
−0.6% | |
| 22 Sep 26 | Director dealing | Director/PDMR Shareholding
Non-Executive Director Gavin Hill purchased 28,944 ordinary shares at £1.383 per share. |
+1.2% |
| 28 Jul 26 | Board change | Appointment of Chief Financial Officer
Lisa Oxnard appointed Chief Financial Officer, joining from Genuit Group; Ben Guyatt departs 31 October 2026. |
+1.5% |
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Ben Guyatt departure date 31 October 2026Lisa Oxnard experience 25+ years finance and operational leadership
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| 28 Jul 26 | Six months ended 30 June 2026
H1 revenue down 13.5% to £168.8m in challenging market; FY guidance unchanged at consensus. |
+1.5% | |
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in line expectations Revenue £168.8m (£195.1m)Like-for-like revenue £168.8m (£186.1m)Adjusted EBITDA £27.0m (£29.9m)Adjusted EBITDA margin 16.0% (15.3%)Net debt before leases £74.5m (£69.4m)Interim dividend 1.7 pence (1.9 pence)
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| 15 Jun 26 | Director dealing | Director / PCA Shareholdings
CEO Neil Ash, his spouse, and Chair Nigel Lingwood purchased ordinary shares on 12 June 2026. |
+0.8% |
| 11 Jun 26 | Grant under Long Term Incentive Plan
LTIP awards granted to CEO and management totalling 864,993 shares, vesting in 2029 subject to performance conditions. |
−5.2% | |
| 11 Jun 26 | Board change | Directorate Change
CFO Ben Guyatt to leave Forterra after 20 years, departing 31 October 2026. |
−5.2% |
| 01 Jun 26 | Appointment of New Independent NED
Gavin Hill appointed as Independent Non-Executive Director and Chair Designate of Audit & Risk Committee. |
−3.0% | |
| 19 May 26 | Results | Annual General Meeting 2026 Results
AGM held on 19 May 2026; all 25 resolutions passed by shareholders, though remuneration policy received 61.44% support. |
−6.7% |
| 19 May 26 | Trading update | AGM Trading Update
Four months to 30 April saw 11% revenue decline as domestic brick market contracted, though price increases and cost controls partially offset headwinds. |
−6.7% |
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Revenue (like-for-like, four months to 30 April) down 11% (prior year)Domestic industry brick despatches (Q1) down 11% (prior year)Gas requirements secured for remainder of year approximately 80%
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| 12 May 26 | AGM Resolution – Approval Of Remuneration Policy
Remuneration Committee proposes hybrid long-term incentive structure for executive directors with performance and restricted shares. |
−2.1% | |
| 14 Apr 26 | Appointment of new Independent NED
Oliver Graham appointed as Independent Non-Executive Director, effective after AGM on 19 May 2026. |
+2.0% | |
| 09 Apr 26 | Director Declaration
Non-Executive Director Gina Jardine appointed to board of Resolute Mining Limited. |
+0.4% | |
| 30 Mar 26 | Director dealing | Director / PCA Shareholdings
CFO and spouse executed share transactions for ISA allowance purposes; CFO's total beneficial interest unchanged. |
+0.0% |
| 25 Mar 26 | Results | Annual Report and Accounts 2025
Forterra publishes Annual Report and Accounts for year ended 31 December 2025. |
+0.0% |
| 24 Mar 26 | Grant under Deferred Annual Bonus Plan
Correction to share price used in calculating deferred bonus awards granted to executive directors. |
+0.0% | |
| 20 Mar 26 | Grant under Deferred Annual Bonus Plan
Executive Directors granted share options under Deferred Annual Bonus Plan for 2025 bonus deferral. |
+0.0% | |
| 16 Mar 26 | Launch of £20m Share Buyback Programme
Forterra announces £20m share buyback programme, with first £10m tranche commencing immediately. |
+2.3% | |
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Buyback programme size £20mFirst tranche £10mMaximum shares to be purchased 21,280,338
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| 11 Mar 26 | Results | Final Results
Full year revenue rose 12.1% to £386.0m with adjusted EBITDA up 18.5%; £20m buyback programme announced. |
−0.4% |
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Revenue £386.0m (£344.3m)Adjusted EBITDA £61.6m (£52.0m)Adjusted EBITDA margin 16.0% (15.1%)Adjusted EPS 12.6p (7.6p)Net debt before leases £55.7m (£84.9m)Total dividend 6.2p (3.0p)
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| 22 Jan 26 | Trading update | Full Year 2025 Trading Update
FY25 revenue £386m, up 12%, with adjusted EBITDA in line and net debt reduced to £56m. |
+2.7% |
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in line expectations Revenue c.£386m (£344.3m)Adjusted EBITDA in line with expectationsNet debt before leases c.£56m (£84.9m)Leverage approximately 1 x adjusted EBITDAUK brick despatches (11 months to Nov 2025) +6%Adjusted PBT and adjusted EPS ahead of market expectations
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| 11 Nov 25 | Trading update | Trading Update
YTD revenue £336m up 16% on prior year; full year guidance maintained with H2 EBITDA expected modestly ahead of H1. |
+2.0% |
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YTD revenue £336m (£290m)YTD revenue growth 16%Last four months revenue growth 10%H1 revenue growth 20.4%Year-end leverage a little above one times adjusted EBITDABrick market despatches (9m to Sept 2025) 10% ahead of 2024 comparative
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| 29 Jul 25 | Progressive publishes new research
Progressive publishes upgraded research note citing housebuilding upturn driving forecast upgrades. |
+11.0% | |
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significantly ahead of previous expectations expectations Adjusted PBT H1 uplift 82%FY25E adjusted PBT estimate £33.3mFY25E adjusted PBT estimate increase 21%Interim dividend increase 90%
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| 29 Jul 25 | Six months ended 30 June 2025
H1 revenue up 20.4% to £195.1m, adjusted EBITDA up 23% to £29.9m; full year expectations raised. |
+11.0% | |
|
ahead of previous expectations expectations Revenue £195.1m (£162.1m)Adjusted EBITDA £29.9m (£24.3m)Adjusted EBITDA margin 15.3% (15.0%)Adjusted PBT £16.6m (£9.1m)Net debt before leases £69.4m (£84.9m)Interim dividend 1.9 pence (1.0 pence)
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| 19 Jun 25 | Director Declaration
Non-Executive Director Martin Sutherland to become Chair of XPS Pensions Group Plc. |
−1.4% | |
| 20 May 25 | Results | Annual General Meeting 2025 Results
All resolutions passed at Annual General Meeting with final dividend of 2.0 pence per share approved. |
+1.7% |
| 20 May 25 | Progressive publishes new research
Forterra reports 22% revenue increase in first four months of FY25 with strong performance in both divisions. |
+1.7% | |
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Revenue growth (first four months FY25) +22% Y/YEstimated full year FY25 growth +8%
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| 20 May 25 | Trading update | AGM Trading Update
Revenue 22% ahead of prior year at £124.1m in four months to 30 April, with strong housebuilding demand offsetting subdued RM&I. |
+1.7% |
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Revenue (4 months to 30 April 2025) £124.1m (£102.0m)Net debt before leases £88.4m (£84.9m)Net leverage 1.7x EBITDA (1.9x (31 Dec 2024))Prior year net debt £118.5m (30 April 2024)
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| 11 Apr 25 | Director dealing | Director / PCA Shareholdings
CFO Ben Guyatt sold 37,622 shares and purchased 23,520 shares; spouse purchased 12,433 shares for ISA purposes. |
+0.0% |
| 26 Mar 25 | Results | Annual Report & Accounts 2024 & Notice of AGM 2025
Forterra published 2024 Annual Report and Accounts and Notice of AGM scheduled for 20 May 2025. |
+1.4% |
| 20 Mar 25 | Grant under Performance Share Plan
Performance share plan awards granted to directors and management on 19 March 2025. |
−0.1% | |
| 20 Mar 25 | Grant under Deferred Annual Bonus Plan
Executive Directors granted deferred bonus awards totalling 99,619 shares under DABP scheme. |
−0.1% | |
| 12 Mar 25 | Progressive publishes new research
FY24 adjusted PBT fell 29% to £22.1m but beat estimates; Q4 brick despatches up 17% year-on-year. |
+0.0% | |
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ahead expectations FY24 adjusted PBT £22.1mFY24 adjusted PBT decline 29%Q4 brick despatches Y/Y growth 17%Beat vs estimate 11%
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| 12 Mar 25 | Results | Final Results
Full year revenue flat at £344.3m, adjusted EBITDA down 10.5% to £52.0m; H2 showed improvement with strong cash generation. |
+0.0% |
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slightly ahead of revised expectations of around £50m expectations Revenue £344.3m (£346.4m)Adjusted EBITDA £52.0m (£58.1m)Adjusted EBITDA margin 15.1% (16.8%)Operating cash flow £60.1m ((£5.3m))Net debt before leases £84.9m (£93.2m)Total dividend 3.0p (4.4p)
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| 06 Mar 25 | Board change | Appointment of Independent Non-Executive Director
Aysegul Sabanci appointed as Independent Non-Executive Director, effective 1 April 2025. |
+2.1% |
| 04 Feb 25 | Board change | Directorate Change
Nigel Lingwood appointed Chair Designate effective 1 April 2025, succeeding Justin Atkinson. |
−0.5% |
| 23 Jan 25 | Trading update | Full Year 2024 Trading Update
Full year 2024 revenue flat at £345m, adjusted EBITDA £50m in line with guidance, net debt better than expected at £85m. |
+0.7% |
|
in line expectations Full year revenue c.£345m (£346.4m)Adjusted EBITDA c.£50m (£58.1m)Adjusted operating cash inflow c.£60m (outflow of £5.3m)Net debt before leases c.£85m (£93.2m)Leverage (banking covenant basis) c.1.9 times (2.3 times)
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| 11 Nov 24 | Trading update | Trading update to the end of the October
Trading conditions remain challenging; brick despatches flat year-on-year but concrete demand improving. Full year guidance maintained. |
+0.2% |
|
in line expectations Year to date revenues vs 2023 5% belowAdjusted EBITDA guidance around £50mAccrington brick slip facility investment £12mAccrington facility capacity 50m extruded brick slips per annumStrategic investment programme £140mAdditional brick manufacturing capacity from investment 15% increase
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| 11 Sep 24 | Board change | Directorate Change
Non-Executive Director Divya Seshamani to step down from Board after nearly 9 years; Gina Jardine to chair Sustainability Committee. |
−1.2% |
| 30 Jul 24 | Six months ended 30 June 2024
H1 revenue fell 11.5% to £162.1m as UK brick market weakened, but performance in line with guidance and net debt better than expected. |
−5.4% | |
|
in line with H1 expectations; better than expected net debt position expectations Revenue £162.1m (£183.2m)Adjusted EBITDA £24.3m (£31.1m)Adjusted PBT £9.1m (£19.2m)Net debt before leases £101.2m (£93.2m)Interim dividend 1.0p (2.4p)Leverage 2.3x
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| 11 Jun 24 | Results | Annual General Meeting 2024 Results - Replacement
Correction issued to AGM 2024 results: final dividend stated as 2.0 pence per share, not 3.7 pence. |
−4.0% |
| 21 May 24 | Results | Annual General Meeting 2024 Results
All AGM resolutions passed, including final dividend of 3.7 pence per share and director re-elections. |
−2.8% |
| 21 May 24 | Progressive publishes new research
Forterra maintains FY24 guidance despite challenging conditions and record rainfall, noting improved demand for housebuilding materials. |
−2.8% | |
| 21 May 24 | Trading update | 2024 AGM Trading Update
Revenue down 6% in four months to April 2024; full year guidance maintained on cost control and modest recent activity improvement. |
−2.8% |
|
Group revenue (four months to 30 April 2024) 6% below prior period
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| 02 May 24 | Grant under Performance Share Plan
Performance Share Plan awards granted to directors and managers, vesting May 2027 subject to performance conditions. |
+0.9% | |
| 15 Apr 24 | Results | Annual Report & Accounts 2023 & Notice of AGM 2024
Forterra publishes 2023 Annual Report and Accounts and Notice of AGM scheduled for 21 May 2024. |
+0.9% |
| 26 Mar 24 | Results | Final Results
Revenue fell 24% to £346.4m as housing demand collapsed; cost cuts of £20m planned to offset weakness. |
−0.2% |
|
Revenue £346.4m (£455.5m)Adjusted EBITDA £58.1m (£89.2m)Adjusted EBITDA margin 16.8% (19.6%)Earnings per share 11.4p (26.4p)Net debt before leases £93.2m (£5.9m)Total dividend 4.4p (14.7p)
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| 25 Jan 24 | Director Declaration
Katherine Innes Ker appointed Senior Independent Director of Stelrad Group plc, joining board 1 February 2024. |
−0.6% | |
| 24 Jan 24 | Progressive publish new research
FY23 adjusted EBITDA guidance raised slightly ahead of expectations despite brick volumes falling over a third. |
+4.3% | |
|
slightly ahead expectations |
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| 24 Jan 24 | Trading update | 2023 Trading Update
Revenue fell 24% to £345m in 2023 but adjusted EBITDA came in slightly ahead of expectations. |
+4.3% |
|
slightly ahead expectations Full year revenue £345m (£455m)Year-on-year revenue reduction c.24%UK brick despatches YTD reduction approximately 30%Annualised fixed costs savings in excess of £20mYear-end net debt before leases c.£95m
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| 08 Dec 23 | Director Declaration
Non-Executive Director Martin Sutherland appointed to board of XPS Pensions Group plc. |
+0.7% | |
| 09 Nov 23 | Appointment of Joint Corporate Broker
Investec Bank appointed as Joint Corporate Broker alongside Deutsche Numis. |
+1.7% | |
| 11 Oct 23 | Trading update | Q3 Trading Update
Q3 demand deteriorated significantly; full year EBITDA now expected below previous guidance despite resilient pricing. |
−5.1% |
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below expectations UK brick despatches July-August 2023 vs June 2023 16% lowerUK brick despatches July-August 2023 vs prior year period 28% lowerFull year 2023 EBITDA below previous expectations
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Company filings. Not investment advice.