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Reported shortages of bricks may be helping share price at the moment....nice gains and hopefully more...GLA
workers offered oneoff £1400 payrise this year example earn £30,000 then get £31400 this year.then the following year you still have £30,000 to negotiate that years rise.
Hope for some uplifting news tomorrow...GLA
some huge trades there?
This company looks like ti knows what it doing, as do the number of institutions which have considerable investments here. Looking forward to next results.
looks good,here..gla
Great recovery GLA
there is no brick shortage. Alot of brick plants are on or have been extended shut downs. Ibstock building a new line at their Leicester Rd plant and Persimmon Homes are building a concrete facing brick plant for backward integration of building materials for homes.
Yep!, it's great and so it should be. Didn't get anywhere near the market cap they wanted and referendum had far too great an impact IMO. I'm confused when I hear sites are being mothballed when there are also reports of a brick shortage. Is this down to the type of brick that's required not being manufactured in the closed/closing sites?
let me re-phrase my last post. EXCELLENT RECOVERY!
Reasonable recovery - maybe one or two new homes WILL be built this year after all!
Thanks for the info. Will be keeping an eye on builders interims this week to gauge the impact of the recent referendum.
Accrington produces the famous 'NORI' brick and Claughton the former Butterley brick range. My understanding is demand for extruded clay brick has been declining of late whilst at the same time developers are sourcing cheaper concrete bricks from the likes of PD Edenhall and Tobermore. Developers weren't happy when during the clay brick shortage prices went up nearly 20%. Persimmon are a big fan of concrete facing bricks but this will be at the detriment to clay brick producers. Retainment of the skill base is real issue with the brick industry as its an ageing workforce and not seen as an attractive career option for the youth of today.
'Brexit has rocked the country’s brick makers. Ibstock and Forterra, which between them account for the majority of Britain’s brick output, have seen their shares tank 36 per cent and 39 per cent respectively, since the vote. For Ibstock, the Brexit ballot capped a whirlwind 18 months. Bain Capital bought it from CRH in February 2015. Eight months later, the private equity giant flipped it, listing it on the stock exchange at 190p. It closed Friday at 126.5p. I can’t shake the feeling that the housing market is for a harder landing than the experts expect. Catching a falling knife is dangerous. But so is a falling brick. Sell.' This Is Money
Thanks megg, I'm sure the demand is there as houses are needed more than ever. Been a rough few weeks for those that invested early doors, but I'm sure the market will pick up once the UK gets someone in place that can show leadership and direction. Hopefully, the cuts will be minimal and the impact on workforce not too harsh.
these 2 plants have been mothballed before,i cant remember how long it was for and there was redundancies.the only thing I can say is that there is strong demand for the London brick product as our factory has increased capacity in the last year
Does anyone have any detail relating to the previous mothballing of Forterra plants? How long were each mothballed for, were redundancies involved, retainment of skilled labour etc.?