Michelmersh Brick Share Discussion Threads

[pugugly] 21/4/2009 08:23

Final accounts - Lossmaking - bad debts and large writedown of assets.

Anyone see anything positive ?

[bodgit] 16/4/2009 11:38

There has been no RNS of the '.. we know of no reason for the recent substantial share price rise.. ' variety. Maybe the Directors do know a reason? Maybe it is just traders playing games? Time will tell. Good luck all.

[pugugly] 15/4/2009 13:38

bossy-s > I know Refs are quoting 100p, but what is the value of 2nd hand bricgkmaking plant. Also there should be a massive writedown of the land bank, given the problems with the UK domestic housing market.

�� Loss before tax of £483,000

[bozzy_s] 15/4/2009 09:40

Fundamentals appear to be net tangible assets of over 100p per share.

I'm not a holder, just watching. My research took 10 seconds!

[pugugly] 15/4/2009 09:18

Price rise (imo & dyor) nothing to do with fundamantals - Which are still very bad.

Speculation or being ramped somewhere ??

Views?

[wcjan26] 15/4/2009 08:29

surely an announcement is needed even if nothing is up?

[wcjan26] 15/4/2009 08:28

trebled in a week?

i've posted here for some time that a predator could take them out at next to nothing to get the brand, close or integrate the existing factories and release the potential value of the land they are sitting on (especially the hampshire factory which sits slap bang in the middle of a prime residential village)

[qs9] 14/4/2009 16:22

Be interesting to see what they do with their landfill piece....and if housebuilding is going to pick up.....very intersting.

[steven1404] 14/4/2009 15:56

very nice rise in sp

[alanrussell] 14/4/2009 10:29

Something's up.

[bodgit] 14/4/2009 09:26

Rather unusual trading this a.m.? Hmmmm.

[alanrussell] 09/4/2009 15:29

A glimmer of light?

[steven1404] 30/3/2009 09:05

lets hope it is possitive

[bodgit] 30/3/2009 07:37

Trading statement due soon? Was on 31st March last year. Good luck all.

[bodgit] 11/3/2009 16:42

Ennstone went into admin yesterday and shareholders will almost certainly get nil, Wrekin Construction had the plug pulled on them, White Young Green shares plumetted today. All is certainly not well in construction. Can Michelmersh survive? Hmmmmm.

[pugugly] 03/2/2009 17:23

Will the last accountant please turn off the lights - Unless of course you have already been disconnected for non payment. !!

Sorry for all holders.

[bodgit] 03/2/2009 17:13

Oh dear. Looks like MBH are following Ennstone down ... and then, presumably, out. Ah well, its only money - and you get another lot in the next life! Good luck all.

[wcjan26] 10/12/2008 10:45

i do wonder what the break-up value of this company might be, especially with the prime residential land under some of their plants

[bodgit] 01/12/2008 17:00

FISHYNECK, I wish you luck. From where I sit, it is clear that much - though not all - of the construction sector is struggling, at best. While some are still very busy, the future looks 'challenging' to say the least. You can tell things are really bad when the (malicious/unfounded)rumours about whether sub contractor / supplier X is in trouble are started. Not that the main contractors would ever start a rumour as a way of helping to push their sub contractors over the edge so they then do not have to actually pay them. After ten or so years of good times, looks like the bad old ways have not been forgotten, merely put on the back burner.

Good luck all.

[fishyneck] 01/12/2008 13:21

steven,

"we will always need bricks" but not in the volumes we have been used to in the past.

Ibstock, hanson and weinerberger are starting to play hard ball, not sure how many of the smaller manufacturers will survive the next year or two.

I run a brick factoring comany and not in 10 years have I known things so tight. Where once we would have competition on orders for around 100k bricks now 10k bricks is seen as a nice order!

We have cut back to the bone and can survive this downturn, i believe whoever is still around when things pick up will be in a brilliant position as many of my competitors will fold. Three out of five of the biggest brick factors have gone already this year.

fn.

[steven1404] 01/12/2008 12:50

as i recall didant they make job cuts to save 2 mill on expenses and they was very overstocked so i can see further jobs cuts or even a 4 day week looming for them but all brick makers are in the same poss so it is the batlle of the fitest to survive we will always needs bricks and they are sitting on all that land

[bodgit] 01/12/2008 12:28

I get no comfort from my expectation of sub 20p having been reached. My surprise is that it took so long for the market to catch up with what is really happening out there in the construction market and the likely impact on a supplier like Michelmersh with significant (substantial?)debt. This could become a mirror image of the Ennstone situation - but I sincerely hope not. Good luck all.

[steven1404] 01/12/2008 12:17

i wont be selling my shares will hold to see what happens

[ed 123] 01/12/2008 11:29

Intriguing situation. I suppose it depends on how long and how deep the UK recession turns out. MBH might survive - fuel and transport costs should be lower now. Anyone good at calling the bottom?

I feel sorry for Eric Gadsden. He must be being hit on a number of fronts.

One option would be for Eric to sell Michelmersh Brick to one of the majors - but there is a lot of value here. Two years from now the picture could look very different. Any chance of white knight coming along and putting fresh capital into MBH?

[pugugly] 01/12/2008 10:56

Bodgit:> Looks as though your prediction may be coming true.

Has there been a SELL tip over the weekend - More trades today than for a long time and down to 17p at time of posting.

Debt looks horrible and both Land and Brick stocks probably need writing down

(imo & dyor)