Alternative reason is buying due to Rachel backing Old Trafford redevelopment housing,
and Cambridge - Oxford corridor development is also promising more housing.
Also talk about streamlining planning.
Presumably we'll see this boost over the next few years. |
The flurry of today's trades I am thinking is due to a tip ? |
2025 prospects increasingly opaque, wouldn't guarantee a return to growth. Can ride out turbulence given the balance sheet. takeover a possibility but uk bricks is already an oligopoly so might require a new entrant? |
"For the full year to December 2024, the firm is expected to announce a fall in earnings of around a third when it releases results in March. This is largely due to the negative effects of heightened inflation and elevated interest rates on activity levels across the construction industry.
In 2025, however, the company’s bottom line is expected to return to positive growth. It is forecast to post a 24pc increase in earnings that puts it on a forward price-to-earnings ratio of around 10.
Furthermore, the firm has a solid financial position that should allow it to both overcome ongoing industry-related challenges and prosper as its operating environment gradually improves. Its net cash position, for instance, amounted to £4.1m at the time of its half-year results." |
Needs a subscription, any insight into current trading and potential take out ? |
650k bought at 102.7p
That clearly means the big sellers are STILL in the market halting any move higher. Not that it is a surprise in our markets, but this is the bit where I sit and watch abit closer to see.....or hope?....yes hope that further big trades hit for a clearing of sellers in one go.
Alot to hope for, but let's see if anything happens.
Come on, show us some whoppers.
I like whoppers, yes I do, yes I like whoppers.
All imo
DYOR
UPDATE: 12:05
So another block has been picked up today with a 339k print at 102.5p and a delayed print of 150k @ 104p. So activity is stirring a little. Any more for any more? |
Vox Markets - 2/12/24
The Exchange with Laurence Hulse of Onward Opportunities
48:35 Michelmersh |
Vox Markets - 2/12/24
The Exchange with Laurence Hulse of Onward Opportunities
48:35 Michelmersh |
Investor's Champion podcast mentions Michelmersh Brick as one they like :- |
It can mean very strong sales, or it could be production issues. Not obvious from the results as looking forward, or maybe a bit of each. |
"...working closely with our customers on the expected timing of despatches."
Supposedly because orders exceed capacity. As bullish as it sounds ? |
fair report this morning, better than Ibst and fort's recent reports. |
Should read across to here then! |
Brickability. this morning, reported " the Group sees positive momentum, particularly in brick order intakes, which is contributing to a well-balanced forward order book for the second half of the year." A straw in the wind? |
Yes given the UK is short of bricks and has to import |
Odd they call it 'anti-trust' which aiui is a US term. If they mean competition, would buying up a specialised brick-maker like MBH really cause the CMA to make a fuss? |
 HOW about this for bringing a new meaning to the phrase 'bricking it'? An eagle-eyed devourer of listed UK company accounts gets in touch to flag an intriguing nugget buried in the half-year results of Forterra, the FTSE-100 manufacturer of bricks and concrete construction products.Published in July, the document disclosed that Forterra incurred a one-of f cost during the six months to June 30 of £2.6m "comprising professional fees associated with an aborted corporate transaction".No deal discussions were reported by Forterra during the period but I understand the multimillion pound charge related to a potential takeover of Michelmersh Brick Holdings, a smaller London-listed brick maker.A lawyer points out that £2.6m is a hefty sum for a deal that was never consummated. Forterra, which has a market capitalisation of £360m, is much larger than Michelmersh, which is valued at less than a quarter of that figure.The conclusion reached by some industry figures is that talks progressed to a detailed stage, but that antitrust considerations may have played a role in thwarting them.Forterra "declined to comment on speculation", while Michelmersh didn't respond at all.Bear in mind though that Blackrock has just increased its stake in Ibstock, another listed brick manufacturer, and I suspect it won't be long before the M&A impulse returns to the sector. |
Hard to see why they thought they could buy a peer in an oligopoly market structure. Remediation of closing or selling plants would probably materially hurt the value creation of a deal. |
according to city am today, FORT got very close to launching a bid for MBH in the summer but backed out over anti-trust concerns at the last minute. |
With a lowered price target of 170 and buy recomendarons after the results, this still has legs. |
Forecast (in IC) £81m in sales for 24. Good luck with that ! |
Revenues fall from 42M to 35M. That's shocking! Strong sell at this level. |
Results down as expected in a very depressed building and repair market. Gross margins nearly maintained (36.2% v. 36.8%)so managing pricing well in depressed market.
Dividend up reflecting management confidence (and mine!) that the building and repair market will make a strong recovery in the medium term. MBH is very well positioned to take advantage of that. I definitely won't be selling at this price and I'm very tempted to add. |
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