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high teens for a brickie is a tad high
fort & ibst are also too high imv
it's a sector thing
Thanks for your comment, jolly speculator. It looks like other people may have thought the same.
I wonder why you think it's too expensive. PE is currently about 18 and it recently got into the low 20s. While 2020 will have been difficult, revenues and earnings were on a strong upward trajectory and the prospects for building materials suppliers should be good post Brexit. Against that, European supplier costs will be cheaper thanks to a strong pound but the effect of that is not huge.
sold out @164.3p
love the company and hope to buy back in the 120-140 range
Great growth price + margin growth does not reflect margin or current demand for blockleys
When is Gadsden going to reduce his 24% stake
core holding
I would say so, I would expect the final div to be announced/confirmed when they publish the finals on 30.03.2021 and to say that it is due to be paid in June 2021 then the ex-div date will be somewhere in between April & May 2021?
Will todays buyers qualify for the dividend?
Great trading statement. Positive cash flow of at least £7m and resumption of dividends should give a yield of over 3 percent.
bought at c92p yesterday, sold 1200 above 92p just now - when the sell price was higher than the buy
made nothing...but on a down day cash is helpful
#gofigure
looks like a local minimum
horrid spread, mind
@92.8p
probably load up 80-85p, but here EV of £90m looks decent enough imv to get started lol
It's very nice to hear that there will be a massive new house building program, into the blue.... tally ho chaps.
like the company, but sector and market v weak atm
FORT down more than 10% over last couple of days...
like FORT yesterday...didn't last there
Encouraging to hear operations will restart tomorrow. Hopefully, this will see other building product manufacturers such as Ibstock, Forterra and Marshalls following as well.
Today's results confirm that competition is being met with stellar performance on all fronts. The economy of using inferior bricks cannot make sense as labour is main building cost. Assets in land underpin shares as does well covered dividend with greatly reduced borrowings.
You can get bricks from abroad - but your paying a lot due to low value bulky, very heavy product. Michelmersh have themselves exported bricks - but this is more likely as they are specialist, higher end.
Perhaps as much a danger is people like Persimmon planning to open their own brickmaking plant, but again the key differentiator for Michelmersh is to concentrate on the more specialist and often restoration, repair market.
The other potential danger is housebuilders not using so many bricks if the trend to start implementing more of the modular off site building materials - to my old fashioned taste I would always prefer bricks - but with the price of houses they will do anything to make them cheaper, and as long as they still look like a house! The 1970's showed you could get away with fast build mediocrity for quite a few years....
60000 share sell just shown up profit takers everywhere. I am afraid to say UK market very hard to make money on the long side at the minute. Bad numbers getting slammed shorters delight
Part of their outlook. Doesn't say there is a stock shortage, but that's what they expect. "UK brick manufacturing is facing stock shortages, with demand exceeding supply, and cost inflation. Any margin improvements that result from these forces will benefit the Group."
Support holds,selling more than buying.Their was some big buying earlier last week at very low entry points could be a little volatile yet. Market as a lack of confidence so many big buyers taking meagre profits. Just like I have !!!
So far, the market has given a positive response to MBH; up 8%. That's after a significant pullback from 96 to 75. The price now is also sitting at previous resistance, which for me means it's turned into support. In the next few months I expect MBH to move ahead to at least 97 and 105 at best. Wait and see.
Onward and upward one hopes
a little underwhelming???. It�s all a bit jam next month, hope the market don�t look at it the same as me, or we will all be nursing some losses later.!!!
I've sold mine as well - what I liked about them was that they were generating cash and had no gearing, I don't like the idea of borrowing so much money to buy a competitor because it usually ends up either working really well, or being a huge mistake - so it's a gamble. The entire model has changed so I'm out for the time being until it becomes clear what impact this purchase has had, and whether it's been a good one or not.