2022.FORT August Newsletter

FORT Progress Update

We aren't resting on our laurels too much here at FORT, and we continue to try and improve the business every day. We've seen good feedback on our new website since it launched earlier in the summer, with existing customers enjoying the ease of checking their account, pricing, stock availability and placing orders.

We've invested in some further storage capabilities for our roofing products, and there's news to come on our delivery fleet in the coming month or two as well.

Air conditioning and a splash-park in the yard have been requested, but as yet not approved by management...

General Availability & Price Update

How times change. Almost since the day that FORT started trading, availability has been a problem. At long last we feel that we can say that this is no longer the case; we can finally put shortages at the back of the list!

FORT Has Excellent Stock Levels!

Inflation is the new problem and it’s been with us throughout the past 2 years or more; quite where inflation is heading is hard to say, but building materials with a high energy or oil content will be the most affected. Concrete, plasterboard and other heavy, lower value items will be particularly affected in percentage terms. The £ has strengthened a little and that, along with market forces, will help to lower many imported product prices – we have added the £/$ exchange rate into our Key Indicators which will help you to see where we are heading:

£ Exchange As you can see, the £ has come off the bottom, but is still very weak. This has a huge effect on imported material costs; all shipping and fuel is priced in $.

Containers
Container rates continue to fall from all time highs. They are still expensive in historical terms, but if the £/$ strengthens as well, it will have a big impact on material costs (especially items like sandstone, which is relatively low cost and very heavy).

Steel
Steel rebar prices were historically running at around $450/tonne until Covid times, when they grew. The Ukraine war then forced prices up dramatically. They have now fallen back but are still running at around $650.

Timber
This link is to the US market, so it does not reflect the exact UK position, but is a handy guide. Timber prices have fallen back and seem to be holding somewhere around 60% above historical norms.

Inflation
Without doubt, this is the most scary indicator! Looking back (if you can remember!) we have to go to the 1970’s to see inflation like this. It’s also global and looks to be ‘baked in’ for some considerable time. Inflation alone eats into people’s savings and is bound to have an impact on overall demand.

Our general advice remains the same:

Our advice remains the same:

• We strongly urge you to NOT give any firm price commitments beyond a very short timeframe – availability and inflationary pressures are extremely high
• FORT continues to hold excellent stock levels in most areas. Contact our sales team for further advice.

As always, please do not assume stock availability - check with the sales office!

Our reputation relies on word of mouth and testimonials from our valued customers, and as such we'd love for you to share reviews of your experiences with us on either Google, Facebook or TrustPilot if you have the time.

Thank you very much for your understanding and support at this time.

Best regards,

Matt, Tim & Keith
The Directors