Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yep, I like both BREE and SRC also - defensive as anything, but also positioned for growth in a world where infrastructure spending and housing are growing. BREE's multiple small takeovers of quarrying and minimix firms in the north and midlands seems particularly sound, and at work (near one of their concrete plants) there appears to be a near-constant flow of their wagons going to and fro. IMO they could have paid a dividend a couple of years ago, but waited wisely and used the free cash to make these additions (as well as the big Irish buy), a strategy I believe should secure a small but growing dividend in years to come.
plodding along, think this has 12 / 36 months to plod with the reconstruction (building) of the UK economy, seems like 120p possible in 2021 , hardly goes down , but often goes up, potential for a rerating or indeed some acquisition/M&A activity here.
DYOR
I also like SRC
Hi Pjf
I’m sure someone will come along and give you a highly technical answer, but, as has been said before, this share is just a bit of a plodder. It could bounce around between 100p and 110p for the next 12 months. It can be very frustrating, but the fundamentals are fine, so just give it time.
Why is the sp so low
BERENBERG RAISES BREEDON PRICE TARGET TO 130 (110) PENCE - 'BUY'
Thanks Walkley. That is more encouraging.
I hope they do move to the main market, which this well run company should find quite easy. I could see them in the FTSE 250 within a few years if growth continues at the current pace.
No, further down. Not entirely sure if Breedons bought South Ferriby, last I heard, Cemex had mothballed it. It was mentioned in a few conversations that BREE would perhaps bid for it, but with all the CMA scrutiniy, I guess they decided not to bother.
The cash cost of this first interim dividend is expected to be £8.4 million. We expect that, subject to shareholder approval, the final dividend for the 2021 full year will be not less than 1.0 pence per share, giving a total dividend of not less than 1.5 pence for 2021.
Subject to trading conditions and continued sustained cash generation, the Group intends to adopt a progressive dividend policy that targets a payout ratio of 40 per cent of underlying earnings per share over time.
The 0.5p divi is hardly going to create a buying frenzy among income investors. Decent set of results though.
-Dividend
-Full year results to be top end of expectations
-ebit margins down across all businesses despite buoyant construction market
-low capex for h1, but additional £30m to be spent this year and next
-no mention of previous decision to move to main market from aim
cemex?....south ferriby
All I know is, as an employee and share holder through the Scjeme Breedons run, the Eastern part of the country that I work in has been flat out busy since May last year. In my part of Lincs, Cemex have gone and so have Tarmac, leaving just Breedons. They are having to use sub contract mixer companies to keep up with demand. The quarries can't dig aggregates fast enough. The boom around here is mainly housing, perhaps a replay of the late 80s, lots of cash rich southerners selling houses, moving up, buying a bigher house for less, and working from home lots. 3 bed semis are sold before the footings have been dug on some sites. Houses are selling in days (3 to 5 max) So I am also hoping for good results on Thursday as my retirement will be much better with a good healthy dividend every year.
Just doubled my ISA holding in anticipation on Thursday's interims. I expect results to show lower net debt and good FCF.
ATB
good trend in the economy
Agreed Newbury1990, however the price should be going up, up up instead of this. Knowing the situation of the company and their wealth of material.
Just makes you wonder if all is what we see. They seem a sure bet for a good price but I am unsure now why the figures are not better.
No great mystery; on one hand, huge amounts of new housing & infrastructure requiring massive amounts of aggregates for concrete, asphalt, blocks etc.
On the other, a safety conscious, well run modern company, specialists in their field with massive, consented mineral reserves with operational & supply units well located nationwide.
that target has now been met......where to next , 120p anyone?
No vote of confidence in those comments!
Definitely a plodder, but at least it's plodding up these days. I sold my entire holding after a year of zero gain, then bought back in at 58p when it briefly crashed in Nov 19 (caused by some big holder announcing they were selling their entire position). I think it's onwards and upwards from here. We have a well managed group, a divi, plus huge infrastructure works and house building over the next decade. What's not to like?
Sadly this is not a company that raises much passion. I have a load and have had for a long time. it has proved a very slow but steady climber. The boom boys do not like these sort of investments so its feet up and zzzzz
Doesn't seem to be anyone on here interested enough to post anything on Bree. That say's a lot IMO.
Bought another £10k. holding heading north of £20k. This is a solid company with great prospects
this and SRC are going nicely and they are progressing along with the UK Gov's drive to build the UK out of economic trouble, re rating coming up this year.
MORGAN STANLEY RAISES BREEDON PRICE TARGET TO 119 (112) PENCE - 'OVERWEIGHT’.