Firm says revenue last year expected to be in line with 2023 figure
Brickwork firm Forterra says it is still speaking to customers about price hikes in the wake of the National Insurance tax rises announced by the government in its Budget last autumn.
In a trading update this morning, the firm said it expected “modest levels of cost inflation heading into 2025, including Employers’ National Insurance contributions as outlined in the budget”.
It said increased energy costs would also add to increased costs and admitted: “To mitigate cost increases we have announced selling price increases for 2025 with customer discussions continuing.”
The firm said turnover last year is expected to be flat compared to 2023 with revenue set to be around £345m when it publishes its results this spring.
It said: “We saw a modest improvement in trading conditions in the final months of 2024 with despatches remaining resilient in the run up to Christmas when there is often a more pronounced slowdown.”
It added that it was hoping the government would use “wider levers to stimulate both supply and demand for new housing”, warning that it was keeping an eye on the impact of stamp duty changes, due to come in on 1 April, “which will influence housing affordability”.
The firm is due to announce its 2024 results on 12 March.
No comments yet