Michelmersh Brick Share Discussion Threads

[thumbtwiddle] 25/8/2004 16:38

results tomorrow...

[thumbtwiddle] 19/8/2004 18:19

just had chance to read it. interesting thread. thanks. i'm looking forward to seeing the accounts.

[thumbtwiddle] 18/8/2004 09:53

ok thanks aderemi i will check it out when i have a moment.

interesting development re. results date change.

[aderemi] 18/8/2004 09:41

Seems the results have been brought forward. Could be a good sign

[aderemi] 17/8/2004 15:43

thumbtwiddle,
I posted a summary at this site.



Feel free to check it out.

[thumbtwiddle] 17/8/2004 15:25

still going up...

[surfcontrol] 14/8/2004 14:29

Friday was a good day for MBH. Suggest you also look at SRF ...

Takeover bid for Surfcontrol (SRF) imminent...

Current Surfcontrol price : 520p (market cap. £160m / $295m)

Prospective Takeover Bid : 730p (Cash bid of £225m / $415m)

Bid Premium : 210p (+ 40%)

Bid Timing : Before Surfcontrol Q4 results on 7th September

Bidder : Advised by Deutsche Bank / Goldman Sachs

If you're interested in SRF, i suggest either invest direct or buy spread bet with stop loss at 450p

[aderemi] 13/8/2004 12:18

no problem at all.

[thumbtwiddle] 13/8/2004 10:26

looks like the tip is helping the share price today. more exposure for MBH. good stuff!

aderemi > have added link to your post in header. hope you don't mind. thanks.

[aderemi] 13/8/2004 00:56

Well IC has tipped this today.

Quick Summary
- The group raised £5.18m at 56p a share when it joined Aim in May. This helped it to restructure debt and strengthen its balance sheet. It is currently spending £4.4m to increase annual production capacity from 76m to 85m bricks by the end of the year.
- While this will initially eat into profits, the long-term effect will be improved efficiency and productivity.
- The group has been highly acquisitive since it was set up, and now comprises Blockleys Brick, Duntons, Charnwood and Michelmersh Brick & Tile. Its primary revenue-generator will be the sale of bricks - primarily via third parties, such as merchants.
- Another key income stream comes from the holes in the ground that remain once the company has cut out the material for its bricks. There is huge potential to exploit these sites for landfill, or to turn the land over for residential development. Blockleys already operates a 100-acre landfill site. Approximately 170,000 tonnes of inert waste is deposited here each year, giving the site a lifespan of around 30 years. Charnwood and Duntons also hold waste licences, which are not yet being used.Importantly, Blockleys has received approval in outline from the local planning authority for the development of 59 acres for a phased residential development scheme. It is anticipated that 15 acres of the plan will be released over the next six years, with the rest to be released on a phased basis on completion of the extraction of the clay reserves (used for brick manufacture). The potential value of this land, which has been valued at some £400,000 per acre, has not been taken into account in the asset value of the group.
- Michelmersh has also invested well during the past few years and, by improving efficiencies, has steadily grown gross margins from 18 per cent to 30 per cent.

[thumbtwiddle] 07/8/2004 12:21

yes i agree. let's see what we get on the 7th.

[aderemi] 04/8/2004 09:59

Michelmersh Brick Holdings PLC, the largest producer of handmade bricks in the
UK, will be announcing maiden Interim Results for the six months to 31 May 2004
on Tuesday 7 September 2004.

------- some kind of trading statement might have been good.

[thumbtwiddle] 07/7/2004 20:08

jack green > just in case you haven't seen it, I have updated the header with a link to consolidated accounts information.

amongst the facts and figures...over 75% of shares in issue are tightly held by directors who have subscribed to a lock-in. Nice!

[thumbtwiddle] 05/7/2004 13:02

max buy 1K max sell 37K comdirect

[thumbtwiddle] 01/7/2004 16:00

where did you read this, brain smiley?

[brain smiley] 01/7/2004 15:59

looking good..bring on 70p.

Slightly concerned that legendary ADVFN investor Keith Maut-Too is expecting a severe stock market crash.Apparently every share bar Tadpole Technology will fall.

Good luck...

[thumbtwiddle] 01/7/2004 15:40

going up today...

[thumbtwiddle] 28/6/2004 10:46

just a thought , but can the company's broker give info on major shareholdings/shares in issue etc?

[jack green] 27/6/2004 23:35

mw8156 - SE is most exposed. But MBH has invested heavily in recent years (including recent investment to lift production capacity from 76m to 85m bricks), so obviously they are confident. The asset backing and share price seem to make plenty of allowance for property slowdowns, and let's not forget Barker review conclusions about need for more housing investment.

Bumpy Dog, there were 38,017,856 shares at issue on listing. Go to
and open "admission to trading on AIM" under latest news stories.

Still waiting on some more information from company. Will post any good stuff

[bumpy dog [new]] 27/6/2004 16:32

Does anyone know the number of shares in issue / mkt cap ? (no info on ADVFN fundamentals).

[mw8156] 26/6/2004 13:03

Isnt MBH mostly in the south-east allegedly most vulnerable to a slow down in housing?

[jack green] 24/6/2004 00:54

Thanks thumbtwiddle
I emailed MBH late last week. Will post summary if I get something interesting.

I have also got hold of a June 2004 Arden Partners research report on Baggeridge brick (BGBK). Quite a good read (13 pages), & reasonably upbeat on prospects for brickmakers. In particular, they say brick prices are still below that for imports (substitutes) and for bricks historically (1980s / early 1990s), that operating leverage is significant, and that the industry needs further consolidation. Barker report may help with volumes, too, but they are cautious on this. Arden value BGBK at value of around 200 based on several valuation methods, and have a buy recommendation.

Arden estimate that over the past 10 years transactions for brickmakers had averaged prices of 3.4 bricks per pound. BGBK currently had a price of 4.7 bricks per pound.

MBH has current mkt cap of 24m pounds. If we subtract just 10m pds of this for the land holdings (hopefully highly conservative), we're left with 14m pounds for the bricks and landfill. If MBH produces 80 million bricks (soon to have capacity for 85m), that equates to 5.7 bricks per pound, much cheaper than BGBK or the market transactions. And we should not overlook MBH's significant investment in plant, reasonable scale (1/4 the size of BGBK, would good be a goodsize acquisition for one of the larger players), and strong position (premium bricks).

I have an electronic copy of the Arden report which I can email to a hotmail address if you are interested.