Michelmersh Brick Holdings (MBH)

Michelmersh Brick Holdings MBH Logo

The specialist brick manufacturer and landfill company.

22-Jan-2018 – 88.5p – £72.1m – PER 10.8

Trading Update For The 12 Months To End December 2017 – In-line and “demand from the house building and RMI markets continues to be robust and Group’s well-balanced forward order book for 2018 reflects this trend”.

Interesting enough although the Net Debt (circa 30% of Mkt Cap) is a concern. I will remain Neutral for now but will dig a little deeper on this one.

10-May-2018 – 93.5p – £80.6m – PER 11.4

AGM Statement – In-line with significant growth versus 2017.

Still Neutral here but will be keen on seeing actual results (with an eye on ROCE and Operating Margin) – Revenue, Dividend and EPS forecasts look pretty impressive.

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