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MBH Michelmersh Brick Holdings Plc

99.50
-3.50 (-3.40%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Michelmersh Brick Holdings Plc LSE:MBH London Ordinary Share GB00B013H060 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.50 -3.40% 99.50 99.00 100.00 102.50 99.50 102.50 782,571 14:42:33
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Brick & Structural Clay Tile 68.38M 8.88M 0.0949 10.48 93.05M
Michelmersh Brick Holdings Plc is listed in the Brick & Structural Clay Tile sector of the London Stock Exchange with ticker MBH. The last closing price for Michelmersh Brick was 103p. Over the last year, Michelmersh Brick shares have traded in a share price range of 75.00p to 107.00p.

Michelmersh Brick currently has 93,516,114 shares in issue. The market capitalisation of Michelmersh Brick is £93.05 million. Michelmersh Brick has a price to earnings ratio (PE ratio) of 10.48.

Michelmersh Brick Share Discussion Threads

Showing 501 to 524 of 1300 messages
Chat Pages: Latest  28  27  26  25  24  23  22  21  20  19  18  17  Older
DateSubjectAuthorDiscuss
05/4/2013
15:06
Well this is fun. Assets worth 60p/share, paying down debt quite quickly and a sale of 15 acres of land with planning permission with solicitors.

Doesn't seem too bright to me to be selling £1 coins for less than 50p today.

shanklin
25/3/2013
12:51
puffintickler, Fingers crossed you get proved right!
Westhouse Securities has increased their price target from 60p to 61p. They are the house broker so hardly unbiased but it is a big gap to the current share price so maybe other people will take notice.
Regards

c1d
25/3/2013
12:37
I don't disagree with you c1d. The price/book ratio is still only around 50% reflecting lack of profitability to date. Once this turns around as the market picks up and interest payments fall (due to the reduction of debt from land sales) I can see this ratio picking up to over 80%. That translates to a 50%+ rise in share price without getting too toppy.
puffintickler
25/3/2013
08:52
Although the share price is down - perhaps due to profit taking by those who have bought at around the lows - I can see (as others have already noted) plenty of positives in the results:

- overall trading for the brick business in line with previously announced expectations

- positive and seemingly sustainable positive cash flow resulting in reduction in net debt

- increase in net assets

- £3.35m moved from long term to current assets as expected to be converted into cash in next 12 months (which will make a good dent in the net debt figure).

Given the above and the current share price trading well below my calculation of net assets (excluding intangibles) per share I am optimistic that the "jam tomorrow" will be delivered.

c1d
25/3/2013
08:38
Compared with what I expected, the reduction in debt and being close to exchanging contracts on the ex-factory site were definite positives, the increase in financing costs was less ideal.

Selling the ex-factory land and the first tranche of land to PSN will put a big hole in the debt.

shanklin
25/3/2013
08:18
We weren't expecting big profits. We were expecting to break even. There was a loss in the first half.
cjohn
25/3/2013
08:16
Results not what the market was expecting. No profit but generating cash. Promises of jam tomorrow as usual.
puffintickler
23/3/2013
19:54
was it not in the deal where they are supplying them to persimmons to build the houses with
steven1404
23/3/2013
11:26
Are MBH's premium bricks likely to be a beneficiary of increased house build activity? Will there also be increasing activity in larger project build?
briangeeee
23/3/2013
08:13
Well - we'll find out just how splendid (or not) on Monday; set your alarm!
gingerplant
22/3/2013
18:15
Splendid neglected share with huge discount to tangible assets.
cjohn
21/3/2013
11:48
A long way to go if house building volumes can recover to pre crash levels.
drewz
21/3/2013
11:41
....or good news expected on Monday. Either way, about time!
alanrussell
21/3/2013
11:19
Obvious that this had to get a bounce on the back of the budget boost for house builders.
drewz
10/2/2013
12:25
Yes, definitely. Once you start plugging in profit shares for the houses: what 40k per house? Is that reasonable? That would 7m + debt off the balance sheet for that one deal.

Debt is the negative holding the share price back from appreciating to closer to tangible asset value, I think.

cjohn
08/2/2013
10:16
CJohn

Yes, IIRC the statement quoted a few posts back details the approach taken on land valuation.

I certainly expect MBH's land valuations to have increased since 31-Dec-11 based on:
- the "satisfactory final determination of the option price of its consented land in Telford" (this relates to the deal with PSN)
- Telford & Wreakin Council acknowledging that the Telford property market is not as strong as it was 3 or 4 years ago and therefore that some of the contributions previously expected from PSN/MBH would have prevented this development going ahead
- an improved property market over the last year giving rise to higher land values
- this week's outline planning permission for up to 185 houses

shanklin
08/2/2013
10:04
Hi Shanklin, I could find nothing more in past annual reports than already known here regarding valuation of the various plots of land.

Regards


CJohn

cjohn
07/2/2013
17:41
Hi Alan

from 28-Jan-10 identifies 90 acres of land that is subject to agreement with PSN.

I am certain the existing factory site, part of which was the subject of the outline planning permission for up to 185 houses, is additional to that 90 acres.

Cheers, Martin

shanklin
07/2/2013
16:44
Yes, I think there are about 60 acres in total at Telford so this planning and the Pesimmon deal only addresses about half the land.
alanrussell
07/2/2013
16:16
Alan

I think they have a lot more land at Telford that they need to process before they would even be thinking of taking that route. Specifically the land that is subject to the agreement with PSN.

This needs the associated quarry:
- to be fully "mined" or whatever the appropriate terms is
- to be filled with landfill
- the land remediated so that it can be built on
As I understand it, this is expected to take many many years to complete although parcels of land will become available for building on on a fairly regular basis.

shanklin
07/2/2013
16:10
Mmmm. Declare the sale of housing land to be essential to keep the factory running, get councillors onside, get planning consent, sell site, wait a year and find that the factory is no longer viable, close it, sell what's left. Sound like a plan.
alanrussell
07/2/2013
15:34
divi payments was stopped 3 years ago think that was the last one i got
steven1404
07/2/2013
13:33
Chairman's remarks in the past would indicate proceeds more likely to be used for acquisitions than dividends.
alanrussell
07/2/2013
13:22
All in good time. Plenty of opportunity to buy cheap stock in the meantime as this is way off the inst's radar, even though it trades at barely half book value.
drewz
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