Shares in Forterra PLC (LSE:FORT) slipped by nearly 6% this morning as the clay and concrete building materials manufacturer highlighted falling demand in a trading update on Wednesday.
“The signs of market improvement seen in May and June did not continue into the second half with market demand deteriorating in July and August,” the London-listed firm said.
Brick dispatches across the UK in July and August were 16% lower than last year, Forterra pointed out, stretching to 28% when compared with 2022.
As a result, the group lowered its demand outlook for the coming year, adding output would be reduced to match 2023 sales levels.
Shares fell by 5.60% to 135.75p.