Forterra has again warned customers that more price rises are coming
their way with another hike due to land at the beginning of next year.
In a trading update on 22nd November 2022, the brickmaker
said the latest rise would kick in on 1 January after three rises this year –
the latest of which saw prices jump 16.5% at the beginning of last month.
Forterra
said trading was currently “robust” with revenue for the ten-month period ended 31
October 2022 up 23% on last time due to higher prices.
In
a trading update to the City Forterra said: “Group revenue in the period was 23%
ahead of the prior year driven by selling price increases implemented on 1
January, 1 April and, most recently, 1 October when we raised the majority of
our brick prices by a further 16.5%.
“We continue to act decisively to recover ongoing cost inflation
and we have notified customers of further necessary price increases effective 1
January 2023.”
The
company added it had fixed 60% of its gas costs for next year and will
construct its new Desford
brick factory within the £95m budget “despite the widespread inflationary
pressures.”
said: “
Harrison
is stepping down next April and will be replaced by Neil Ash who is currently
head of the Building
Performance division at Etex.
Taken from articles
on Housing Today by Dave Rogers 22 November 2022 and constructionenquirer.com
by Grant Prior
November 2022