 Operational Headlines?Resilient operational performance and strategic progress against unprecedented backdrop of COVID-19?Health and safety of all our people has remained the key priority throughout?Strong progress against operational strategy, notably in area of ESG; achieved "AA" rating from MSCI?Following initial sharp contraction in market demand from late March 2020, steady and sustained recovery of demand patterns over remainder of year?Group wide restructuring programme to reshape and upgrade the business completed in H2, delivering up to £20 million of cost savings in FY21, at a cash cost of £9 millionFinancial Headlines?Revenue decline of 23% reflects impact of COVID-19 pandemic, with significant reductions in both Clay Division, down 29%, and Concrete Division, down 5%?Adjusted EBITDA1 of £52 million (2019: £122 million) down 57% reflecting lower sales volumes and impact of operational gearing?Statutory loss before tax of £24 million (2019: £82 million profit) reflects lower trading performance and exceptional costs of £36 million principally related to COVID-19 and restructuring |
Using bricks to build a factory to make more bricks seems like a good plan! |
Small dividend reinstated at Forterra today and an small but impressive profit... I am expecting similar fromIbstock - I don't see why not. |
Personally, I'm not convinced rises in bond yields will be sustained. However, irrespective of my thoughts, I would agree that committing to building a factory in what are still quite uncertain times would be a brave (possibly even foolhardy) decision. |
Not if bond yields rising tells them that interest rates are going to rise, then putting that factory on hold might not be a mistake. |
I can't see how the news tomorrow will be anything other than very positive. Homebuilding is going into overdrive, and perhaps the only possible question will be if Ibstock can fully capitalize on the opportunity. Although entirely understandable, putting the plan for a new factory on hold last March might come back to bite them. |
ADVFN app showing news today, but cannot find it. Pretty sure there's going to be good news tomorrow from what a construction industry friend has told me. |
I read something a few months ago suggesting Ibstock could be a good recovery stock, I bought some and have seen a nice rise since then. I noticed things are ticking up again today and wonder if the final results on Wednesday could be better than expected. It would appear that building supplies are in big demand and that something like 80% of the UK brick supply is made by 3 players, Ibstock being one of the three. A return to an share price of over 300p could well be on the cards quite soon IMHO. |
I can as of today declare I have completed buying my stake here.
I have a 300p target and will review at that time.
tiger |
Would like to hope there is a little upward momentum towards the next update. Roll on 10th March indeed! |
Disappointing move. Breaks out and hits 230p and then comes flying back down like this to the current price of 213p, almost typical IBST really - lumpy irrational moves.
At times it isn't almost worth trying to look at value proper companies in this sort of market. You may as well have a full list of speculative garbage shares on the monitor.
You'd do alot better! :-D
Whacky ole market full of uncomfortable excesses!
We are now in reporting season so it will be interesting to see how the market reacts to the results.
Roll on the 10th March.
All imo
DYOR |
Looks like a slow motion breakout with a gradual uptrend in play on the shorter daily charts.
That is one way to play the shorts. Let them feed in and gradually gobble up any shorts being fed in and then keep bidding higher in a very small way. If that bull trend can be kept in tact, price could move well from here.
Over to Merian and any other small shorters under the 0.5% threshold to make their move now because the price is clearly making bullish moves.
All imo
DYOR |
I've been told that one of my local ibstock factories doubled their budget for dispatches in January. Forward ordering is necessary for most wirecut factories with most having lead times over 6 weeks. Forterra are in all sorts of trouble (again!) with shortages from wirecut factories! |
270 in the current conditions seems a reasonable shorter term target, I agree. Last Feb we were 320p+, so pandemics allowing, ceteris paribus, we will get back there on infrastructure, housebuilding, with R&M and extensions likely buoyant given people stuck at home with spare cash... |
Nice close there above that 220 mark. Volume not huge but higher on the up days, lower on the down is fine with me. Add that flagpole onto the current share price for a target of 270 initially. Seem fair? See how it plays out. GLA |
No, nothing as vulgar as that on here , only want to hear about chart patterns. |
Does anyone have a handle on what may be happening to margins following the strong construction market, supply shortages, Brexit, sterling strength etc. |
It's looking ok so far! Really feels primed for a breakout soon, close above that 220 and some good volume would give me some confidence! |
More price teasing, slowly getting there but did well holding up yesterday, I thought |
I have been tracking this one for a few weeks, just based on the chart. Finally jumped on this afternoon. Probably jinxed it, but let's see! |
No problem Jonojubb. I post across various shares when there is something notable happening. The movements here have been interesting.
Prices are fluid and you can never be sure from day to day how market participants will behave. Sometimes you can have a strong move one day and the next it's a different picture.
I mean, take IBST....
You ask for a close above 220p and it goes and closes at 219.8p! You can't make this stuff up at times ha
Talk about a proper price tease. I guess it is a form of a bullish move even though an unconvincing one. Hang in there and hopefully we can move to a nice breakout.
There is no movement on the shorting front by Merrian on the disclosures just out now.
That's all for now.
All imo
DYOR |
Keep those insights coming Sphere25, really enjoy reading, trying to understand but learning something new so thank you |
 We know Merian have been sat at the resistance levels feeding shorts in. Hard to say who else might be feeding in there under the 0.5% disclosable threshold. It would be hard to believe there will be significant short interest in IBST. unlike topical examples out there recently, but it seems quite a challenge to buy through any shorts and the sellers at the resistance levels atm.
Price is once more bang on that breakout point and having a go but it falls over every time. It goes back down a few pence and then comes back up to have another go. Peculiar movements in such a bullish market. I'd have expected IBST to have broken out by now. It is an enormous price tease!
Furthermore, there was a 1.16m buy at 217.8p yesterday at 15:00. That is a significant chunk to take on a single trade for IBST and yet that wall of resistance is still being a challenge.
I think we need a firm close above 220p here to signal a breakout. Once you have shorts at play, it does become a great deal trickier to read the price movements.
All imo
DYOR |
Hoping this will beat that benchmark resistance and not fall back down. I agree this is worth £3+ just thought that recent update would have provided us with a breakout |
Key resistance test coming up again. Later realised, that on the day of the bullish update, there were shorts being fed into the market to help prevent the breakout. Merian have been feeding shorts in so that will have had an influence on those algos selling around the resistance. Whether it was the critical factor is open to debate.
A tad miffed at feeding shorts in here. Out of all the shares and all kinds of lofty valuations, pick the one that isn't on an excessive rating (imo) and carries bullish recovery potential? Huh!!?!
It looks like they have been feeding shorts in quite a few recently so perhaps it was a hedge against the US correcting or maybe they think the top of the market is close and to continue averaging into shorts?
I don't know, odd move in something like IBST when so many others like TRN are on the table for shorts. We are told that more than 90% of funds fall down when it comes to beating a basic benchmark.
Wonder if they will keep feeding more in here and across the board.
All imo
DYOR |
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