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ha ha ha...will do later mate..at work now! all the best mate
you can't just pop over here and shout 'boom', as the first post in over 3 months! lol. Care to share the faraday tip on GC?
Boom!
Outline Planning Consent Granted for Telford Site Further to the Group's previous statements about the expected planning developments at its 15 acre freehold site in Telford, Michelmersh Brick Holdings is pleased to announce that at a planning meeting of Telford & Wrekin Council on 6 February 2013, a resolution was passed to approve outline planning consent for the site. The consent relates to the residential development of up to 185 dwellings subject to standard conditions. The consented land was formerly the site of brick manufacturing which ceased in 2010 and is adjacent to the Group's current brick manufacturing facility which is expected to continue to manufacture 22 million bricks per annum. Further details will be provided when the Company reports its full year results, for the year ended 31 December 2012, on Monday 25 March 2013.
This is the horse to be on for 2013
Inching up with brick sales moving into houses,but slowly
Exciting new development, opening new market opportunities for MBH http://www.mbhplc.co.uk/company-news/aquarian-cladding-partnership
Nothing I post is investment advice. I am (a little) long MBH
INL, GLEE and all the housebuilders are enjoying their days in the sun...
Shares in brick and tile firm Michelmersh Brick fell heavily on Monday after the firm said 2012 profits would come in below market expectations. The company said it only expects to break even for the full year after it came up short in the first half and said it would not make this ground up in the second. Group turnover fell to £11.9m from £12.2m in the first half of 2011. This led to a loss before tax of £84,000, compared to £105,000 the previous year, and a loss per share of 0.14p. The results reflected a reduction in landfill income and a decline in construction activity and business confidence, said Chairman Eric Gadsden. He added that lack of funding was still constraining demand despite the many government initiatives to attempt to improve conditions. "Although sales prices and income from carbon surpluses are usually stronger in the second half of the financial year, economic conditions do not suggest this will be the case in 2012," he said. "In addition, higher than anticipated interest costs will arise following the delay in receipt of the expected cash proceeds of the land disposed under the Persimmon option."
Commenting on the results, Eric Gadsden, Chairman of Michelmersh Brick Holdings, said: "Our business model has been based for some time now on a flat market, focused on the South East of England, with funding constraining demand despite the many Government initiatives to attempt to arrest these conditions. We can survive in these conditions and will thrive when conditions improve. "The Board now expects that while the Group's revenues for the year ending 31 December 2012 will be marginally below market expectations, the Group's profit before tax is likely to be significantly below market expectations as the shortfall encountered in H1 will not be recovered in the second half and therefore the Board expects the Company only to break even for the full year. The contribution from landfill is also expected to be below expectations. Although sales prices and income from carbon surpluses are usually stronger in the second half of the financial year, economic conditions do not suggest this will be the case in 2012. In addition, higher than anticipated interest costs will arise following the delay in receipt of the expected cash proceeds of the land disposed under the Persimmon option. Despite the difficult trading conditions, positive trading cash flow and proceeds of future land asset sales will mean that the Group will continue to develop the business while seeking opportunities for growth. "Our unique product range, efficient works and sales structure, together with our land assets give us a resilient position in challenging times. Our main focus for the remainder of this year and for 2013 is to develop our premium position in the brick market and to bring to fruition the work done over a number of years to conclude our Telford land sales. "We continue to closely watch developments in our industry and believe that however they play out, we will benefit in a market place which is stable or shows some modest element of growth."
Operational Highlights • Strong production performance during the period with 35.1 million units produced at below budgeted unit manufacturing cost (H1 2011: 35.6 million) • Volume of bricks sold 33 million (H1 2011: 36 million) • 6% increase in selling price to £355 per thousand (H1 2011: £336 per thousand) • Significant enquiries and orders from the UK, continental Europe, Japan, Hong Kong and Qatar • Orders from high profile specification projects including University of Cambridge, Harrods and the Mace ITV project in Manchester
Half Year results for the six months to 30 June 2012 Michelmersh Brick Holdings Plc (AIM:MBH), the specialist brick manufacturer land and landfill company, today announces half year results for the six months to 30 June 2012. Financial Highlights • Group turnover reduced to £11.9 million (H1 2011: £12.2 million) • Operating profit of £406,000 (H1 2011: £508,000) • Loss before tax of £84,000 (H1 2011: profit of £105,000) • Further debt reduction over 12 months of £842,000 • Loss per share of 0.14p (H1 2011: earnings of 0.18p) • Net asset value of 60p per share (H1 2011: 64p)
http://www.investegate.co.uk/Article.aspx?id=201209240700079169M
Morning,yes lovely here too bit of diy for me
morning cinders - cracking day here - garden beckons. Have a good one
Commenting on the results, Eric Gadsden, Chairman, said: "There is a strong push to gain a recovery of costs and ultimately this will work its way through into the bottom line, but in the meantime our business is well invested, and has a high degree of complementary products demanded by an increasingly discerning market. "We are aware of a number of potential opportunities to grow our business and we will consider all of these, and believe that we are uniquely able to progress and lead them. We are able to look forward with cautious optimism."
http://www.investegate.co.uk/Article.aspx?id=201203260700210156A
Looking good in small strides
I thought this undervalued company would go north last year, but it could well be 2012
Arbuthnot maintained its "strong buy" rating and 64p target price for Michelmersh Brick Holdings (MBH). Commenting following the annual general meeting statement, the broker said the firm's premium position in the market has enabled it to maintain margins despite the challenge of increasing energy prices. That said, as flagged in its initiation note, Arbuthnot believes the group is likely to be a winner from the major changes expected to occur in the UK brick industry over the next 12-18 months. Michelmersh shares jumped 1.5p to 33.5p.
I have always liked this company and its starting to look really good for a long term future
Michelmersh Brick's margins safe despite tough market By Benjamin Chiou Date: Monday 13 Jun 2011 LONDON (ShareCast) - Michelmersh Brick, the brick, land development and landfill company, said that it has been able to offset challenging conditions in the industry to grow sales volumes ahead of expectations so far this year. Sales orders, despatches and production activity continue to be strong at all sites, according to the company's chairman Eric Gadsden. "Group sales volumes are ahead of budget for the year to date," he said. However, Gadsden noted that maintaining margins while energy prices increase is a key challenge for the industry as a whole. "[W]e continue to direct our efforts towards ensuring that our costs are well controlled and we have and continue to benefit from our investment in modern, more energy efficient plants at all our works in recent years...our premium position in the market has enabled us to maintain margins despite the prevailing market conditions." "We continue to see major changes within the industry and will be watching these closely for potential opportunities to develop our business whether organically or by acquisition," Gadsden added.
AGM Statement Michelmersh Brick Holdings PLC (AIM:MBH), the specialist brick, land development and landfill company, announces that at its AGM to be held later today, Eric Gadsden, Chairman will make the following statement: "I am pleased to report that sales orders, despatches and production activity continue to be strong at all our sites, particularly Freshfield Lane and Blockleys where some products are subject to extended delivery schedules. Group sales volumes are ahead of budget for the year to date. As an industry, however, maintaining margins in the light of increasing energy prices is a key challenge. At Michelmersh Brick Holdings we continue to direct our efforts towards ensuring that our costs are well controlled and we have and continue to benefit from our investment in modern, more energy efficient plants at all our works in recent years. Furthermore our premium position in the market has enabled us to maintain margins despite the prevailing market conditions. Having successfully completed the integration of Freshfield Lane into the Group our focus now is to maximise margins across the business. As well as further improving and honing our current product range we intend to develop a number of new products which will sell at premium prices, building on our success in the specification market. The restructured Blockleys works is performing well with strong prices and our Terracotta business continues to attract strong demand for its specialist products. We have had success with new products, such as Anthracite bricks, at The Downs, Wimbledon and Comus Place, London, SE17, both high quality residential schemes. In addition we have demonstrated our ability to cross sell by winning the brick specification for Abraham Darby, a new Academy in Telford, Shropshire for a Freshfield Lane product. This project is now nearing completion. We continue to see major changes within the industry and will be watching these closely for potential opportunities to develop our business whether organically or by acquisition."
http://www.investegate.co.uk/Article.aspx?id=201106130700102827I