Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Still pricey v mbh
They say the rats are always first to leave the sinking ship.
Well done Mr guyatt, that's what the share price needs at this time. Thank you from me and other long term investers.
This is the year when we see interest rates dropping in the next few weeks. Hopefully this will rally. Now is time to get in at this price.
The outlook for building materials like clay is finally starting to improve.
Cheers
Barcap
Hit target top-up price today, so topped-up accordingly. Nice to see a director bought in as well. I hope it’s not a ‘falling knife’, as I’ve picked up a few of those in the past. GLA.
Heading towards true value at a quid after that...
Still more pain needed to bring fundamentals in line with better managed peers like MBH
this still trades at too high a premium over TNW imv
tp £1.20
Brickworks to close 80 job losses as building slows down
you do know mothballed is a euphamism right ? its a word or phrase used in order to be less co**** or brutal ! or if ya like a polite lie ! im sure ex workers would rather that than " we closed the x factory because production levels were low and costs high" it may be true but that could be misconstrued as a jab at the workforce !! if they said mothballed "the site" then whatever happens to the building on the site is irelevant !!!just saying :)
Forterra keep saying howley park brick factory is mothballed? It just looks better for them but there liars it’s getting knocked down old factory costing far too much money
Yes a horrible period for them for sure and it may well be the case that they're through the worst.
FWIW Managed to get a look at research (comissioned by FORT) they're forecasting 11.1 fy fully adjusted eps and year end net debt pre IFRS16 of 61.9 m (which is seemingly comparable to the £50m yesterday) so yes further degradation but stunted. Also divi down to 6.2p.
Further info cash year end was 34.3. I wonder what this position is now?
It will be interesting to see how this develops.
*correction to my post yesterday net debt was (-£5.9m) end of last year.
Im no expert but ... I imagine A.production cost with previous 6 month fuel ( mini ) crisis ! Exacerbated by problems at previous plant which probably resulted in inventory depletion, partly necessary and partly deliberate as the new plant's efficiency meant replenishing inventory ( except bare minimum ) from old plants would have been wasteful and a lil bit stupid. So run down inventory and use old plants at bare minimum and now take advantage of new plant to replenish at much lower cost.
Added to reduction in demand as builders used their inventory rather than buy at a premium hoping that fuel costs would stabilize.
I would expect a much better quarter going forward and if inflation drops even better, my bias is im already in and content to be so, not in the wings hoping to catch the bottom :) but as always wtfdik etc gla
I'd be interested to hear because spending 55.9m (+cash generated from operations) in 6 months seems like an awful lot. Managment clearly recognise this hence cost cutting. I'm potentially a very willing buyer of this but liked it much more when the balance sheet had plenty of cash.
Anyone without a lower sp agenda have an opinion ?? lmao £1.48 buy yesterday was a no brainer btw just saying :)
Just to be clear previously it was +5.9m now -£50m a fairly significant swing and the difference includes any free cashflow in the period. I had a look back to the half year update last year and the cash position was an order of magnitude stronger, and so it doesnt seem to be a seasonal thing. Its obviously got a very strong asset backed balance sheet but the cash position is worrying to me. From my quick scan I attribute the spend to capex and inventory. Excess inventory in a slowing market seems unnecessary and I can only assume is due to a shortfall in orders vs projected orders. They may well be able to shift these if they're core selling bricks for example but I wouldn't be surprised if the net debt position continues to deteriorate. It's unbelievable how something can swing from so much cash to a negative position in such a short period of time. Though if they cut the divi, cost cutting measures follow through and at least maintain earnings over the next 1.5 years they should be able to get back to a net cash position relatively quickly. Very surprised at the sp movement but need to get my hands on some research.
Does anyone have any insight into the increased debt? The last EOY report stated it was £5.9m. Now they are suggesting £50m. Increased inventory? To do with the new factory? I’m slightly lost as to why. Divi will obv be cut this year as EPS will be below last years payment. Anyone else got any thoughts?
Is this a knock on effect from today’s SIG’s results
Took the opportunity to buy another 10k worth 😁
This company are so bad in the HR department and the system they use for wages Dayforce they carnt get people’s redundancy figures right.Desford brick plant having so many production problems they will have these for next 10 years
If todays numbers are correct @ 13.38 there was a 100 to 1 buy ration resulting in a 4 % rise ! lmfao nothing to see move along the bus :)
Https://www.fool.co.uk/2023/06/26/the-forterra-share-price-is-down-so-is-the-stock-a-buy/
Be nice to hear something from bod ? maybe director buys ? coz ya leave it much longer before the directors buy then they wont be able to ! Because either they knew it was going to fall or they knew they had good news in the pipe and waited for bottom !!either way not cool !! On either lack of news or buying the base !!
You never catch the bottom as they say and I jumped in at 178 but this is, in my opinion, a good investment. More so at these current prices. Almost no debt, good financials, investment that should now produce in a sector that will rebound. At which point the recent investments should start to enhance earnings. Just my opinion.
As low as black rock with its control of 25% of the entire world money supply wants it to go :(