Stephen Harrison, Chief Executive of Forterra plc, said: “The strong trading seen in the both the housebuilding and repair maintenance and improvement (RM&I) markets in first half of the year continued into the second half. As expected, we encountered significant pressures across our supply chain in the period, although, due to the agility of our operational management, we have been successful in limiting any disruption.
“We also experienced meaningful input cost inflation, which has had a short-term impact on margins, however we are mitigating this through significant selling price increases. Notwithstanding these factors, we continue to anticipate delivering a full year result in line with management’s expectations, with higher than expected revenues offsetting the increased cost base.
“Heading into 2022 we are optimistic about the continuing buoyant demand for our products, underpinned by favourable market fundamentals. With the brick capacity uplift provided by the new Desford brick factory now only a year away, and with the Wilnecote project increasing our presence in the commercial and specification market from 2023, we are confident that group performance will continue to strengthen.”