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Thank you, Freshwest, v helpful.
These are for June; I'll be interested to see how the July and August figures recover, assuming they do. Depending on your perspective, the forecasts don't appear as bad as they could be going into 2021, but that depends on Covid staying in its box:
Key points:
• Output is expected to fall by 24.4% in 2020, due to the impact of Covid-19. It will then grow
by 13.9% in 2021 and 8.6% in 2022 to around the level seen in 2016.
• The worst hit sectors are private and public new housing, which are expected to fall by 35%
and 38% respectively in 2020. However, both are expected to recover by 25% in 2021 and
10% in 2022. Private commercial new work is forecast to fall by 30% in 2020, with growth of
14% in 2021 and 8% in 2022 only taking the sector back to 2013 levels, due in particular to
declines in the retail sector. Private industrial new work is forecast to fall by 16% in 2020,
but growth of 13% in 2021 and 5% in 2022 sees the sector returning to 2019 levels.
• Infrastructure new construction is forecast to fall by 14% in 2020, before recovering with
growth of 7% in 2021 and 15% in 2022. The strongest driver of growth through the period
from 2019 to 2022 is the HS2 project in the rail sector. Public non-housing new work is
expected to fall by 19% in 2020, followed by growth of 1% and 6% in 2021 and 2022
respectively, still below the 2019 level.
Sharp rise in debt will be an issue. Suggest you look at the ONS Building material stats, which are published each month. Usually published the first few days of the months. These were last months.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/906251/20-cs8_-_Construction_Building_Materials_-_Commentary_July_2020.pdf
Can anyone explain why this continues to slip - whilst housing is generally seeing positive news? Is there some news I'm missing? Or is it that just that bricks and concrete are seen as boring when other shares, which seem far higher risk, such as cruise liners are on the up.
FORT generates more with less capital employed. Alot more
can see this retesting lows (like FORT did...and FORT had raised more capital at substantially higher price)
totally agree - this looks a real bargain at this price. Even with second wave I cannot see builders downing tools again (possibly only locally to a specific site ) this won't effect Ibstock. There is only upside form hereon in. Have added another 20k at just under 160 to my holding. GLA. DYOR
Considering it includes the restructuring costs, the loss doesn't seem that bad.
I was hoping the announcement from the government simplifying the planning process was going to have a knock on affect raising Ibstock price but alas that didn't happen!
Going to buy some more at the current prices though, should lower my average nicely.
In the Q &A, going forward they are talking about production possibly 10-20% below 2019 for the next year - Although not directly comparable, looking at past share prices cica 200p would seem a reasonable target.
Loss reflects non-underlying costs and reststucturing
Call at 9am with CEO if interested
To register for the webcast, please see: https://brrmedia.news/rgr27
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yes not great but not unexpected
Dont forget net debt is up 66% 103m -> 62m
As expected I guess but I particularly like the statement that 'free cashflow was positive'. Always a good sign within any business and a strong Balance Sheet too. Trading volumes still below pre covid levels (again expected) but demand is high.
Also like the statement that they have cut costs by £20m ongoing for 2021.