The Forterra Plc Board has declared an interim dividend of 2.4 pence per share with the distribution approximating to 1/3 interim, 2/3 final. The interim dividend will be paid on 13 October 2023 to shareholders on the register at 22 September 2023.
Other financial highlights include:
• Group revenues for the period of £183.2m, a decrease of 17.8% relative to the prior year (2022: £222.8m)
• Resilient H1 result broadly in line with management expectations delivered against a backdrop of challenging trading conditions
• Adjusted EBITDA of £31.1m (2022: £46.1m) and adjusted PBT of £19.2m (2022: £37.3m)
• Statutory EBITDA of £30.0m (2022: £53.0m) and statutory PBT of £18.1m (2022: £44.2m)
• Selling prices have remained firm despite competitive market conditions, with cost base also remaining stable
• Progressive signs of market improvement seen in May and June
• Strong and flexible balance sheet with a net debt before leases of £50.1m (2022 year end: £5.9m) which is below 1x adjusted EBITDA on a last 12 months (LTM) basis
