Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
" ... the West’s full out rhetoric and actions have made this existential for Russia, and that was a massive mistake if you want peace."
I can't believe you've said that. The ONLY thing that interrupted the peace and that continues to do so was Russia's invasion of Ukraine.
“If we are not prepared to defend a tolerant society against the onslaught of the intolerant, then the tolerant will be destroyed, and tolerance with them.” Karl Popper.
Warthog: "Unbelievable 3%++ drop even though great results yesterday and buys outstripping sells 1.5/1 today"
Yep. Similar to BigBlu Broadband (BBB) today - good results last week with a resulting 50%+ SP increase, but today no sells whatsoever and 1.54% price drop. Nothing makes sense any more.
Oh, Valueplay was all about OCDO's brilliance after the Ocado Re:Imagined event last year. The company was going to go from strength to strength and be the world leader inertial distribution technology with lots of profits to come for everyone. The arguments put forward for this were quite reasonable and, dare I say it, even encouraging reading for potential investors.
Then, after a period of radio silence, he/she announced he/she had sold his/her entire holding two weeks previously without informing anyone. Again, the arguments put forward for getting out were perfectly valid, but the silence about the change of heart was unforgivable.
Consequently I don't think anyone listens to Valueplay any more.
It all still feels very directionless.
Quite, LLoL:
https://stocks.apple.com/AYprTXZNrRsC5v0ffvvQJhw
Yes, I have a question ...
Why should we believe Darren any more?
I'm now more than 45% down on PALM and see no upside. Every announcement or interview leaves me feeling my gaze is being directed to a message painted on the side of a bus, that I'm being being sold a Brexit by a Boris Johnson.
That represents an increase of about 10% on the underlying operating profits expected by analysts for the financial year just passed. The division's also recently added glass reinforced concrete business to its portfolio, as well as a fireproof cladding company, further progress in building out the sustainability strategy. But if trading deteriorates significantly, continued investment could put the group in a precarious position.
The strong property market of recent years has begun to retreat, and we're already seeing signs of falling construction activity, particularly in the new build market. However, it's worth noting that house prices don't necessarily impact Ibstock.
The group gets paid as long as houses are being built and refurbished, so a modest cooling would do little harm. But with interest rates reaching their highest levels since the 2008 financial crisis, we have concerns that a correction could be more significant. This has yet to impact Ibstock's profits, but we are seeing some indicators of a slowdown in the wider construction market.
Management's spent much of the last year shoring up the balance sheet putting the group in a much stronger position, which allowed for a now completed buyback programme. But demands on cash are not insignificant between rising investment and dividend payments.
Dividends have historically been well-covered by free cash flow, but it's something to keep an eye on moving forward. However, the recent guidance upgrade gives us some comfort that the prospective yield approaching 5% is achievable, albeit it can never be guaranteed.
Ibstock's valuation is below the long-term average, suggesting the market isn't overly excited. We think the valuation doesn't price much in for future growth prospects, but see increasing potential for shock that could negatively impact sentiment in the short term.
Ibstock key facts
Forward price/earnings ratio: 11.3
Ten year average forward price/earnings ratio: 12.4
Prospective dividend yield (next 12 months): 4.7%
All ratios are sourced from Refinitiv. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn't be looked at on their own - it's important to understand the big picture.
From Hargreaves Lansdow:
Ibstock - 2022 ahead of expectations
Derren Nathan | 18 January 2023
No recommendation
No news or research item is a personal recommendation to deal. All investments can fall as well as rise in value so you could get back less than you invest.
As expected by management, Ibstock saw volumes tail off in the fourth quarter due to reduced activity amongst its client base in the construction sector. Nonetheless, it described performance in the quarter as resilient, driven by a continued focus on price and margin management and good operational execution.
Ibstock now expects a 25% increase in 2022 revenues to about £510m, with cash profits (EBITDA) modestly ahead of management's prior expectations. Cash generation is also better than expected, with net debt at the year-end of about £46m.
Ibstock is continuing to invest in its Futures division which focuses on the shift to sustainability and industrialisation in the construction industry.
In 2023 Ibstock cautioned that higher interest rates, inflation and heightened market uncertainty are likely to impact demand for its products. However, it remains confident in its medium-term financial targets.
The shares were broadly flat in early trading.
Our View [HL]
Even against a deteriorating outlook for housebuilders, Ibstock has been doing better than expected. Input cost inflation has been mostly offset by price increases, and the group's been able to capitalise on strong post-pandemic demand. But things are now getting tougher. That said, two upgrades in as many trading updates is no mean feat in the current environment.
Focus has shifted to growth rather than survival and management is using it's more efficient operations to pay for modernisation of two of its factories. That will increase capacity and allow the group to take advantage of growth opportunities as they arise.
There's also a push to become a leader in more sustainable housebuilding with the advent of a new division-Ibstock Futures. The first order of business for this new arm is brick slips, a type of lightweight brick facade. The group is spending £50m over the next few years to build the UK's first brick slip factory, a venture that's expected to return roughly £10m per year when all's said and done.
1/2
No. They have 3.6% of SMT is in northvolt.
https://www.scottishmortgage.com/en/uk/professional-investors/holdings