27 October 2015

Admission to trading on the London Stock Exchange


Further to its announcement of 22 October 2015, Ibstock plc (the "Company") is pleased to announce that its entire ordinary share capital of 405,500,000 ordinary shares has today been admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities under the ticker "IBST".



Ibstock plc is a leading manufacturer of clay bricks and concrete products with operations in the UK and the United States. Our principal products are clay bricks, brick components, concrete roof tiles, concrete stone masonry substitutes, concrete fencing, pre-stressed concrete products and concrete rail products. Our range of products are manufactured, marketed and distributed by Ibstock Brick, Supreme Concrete, and Forticrete in the UK, and Glen-Gery in the United States.

Ibstock Brick is the number one brick manufacturer by volume of bricks sold in the UK where approximately 80% of new build houses use brick in their construction. Glen-Gery is a major regional brickmaker in the US, and Supreme and Forticrete also hold strong positions in their respective markets. Subsidiary operations include Ibstock-Kevington, a leading manufacturer of brickwork components and Anderton Concrete, a specialist in the manufacture of concrete rail and infrastructure products.

The businesses are major manufacturers of products for the new build housing and domestic repair, maintenance and improvement markets (RMI).

We operate from 33 main sites in the UK and ten sites within the United States. We also have over 150 million tonnes of clay reserves across 23 active quarries in the UK and 29 active quarries covered by 20 active permits in the US.

Broker Forecast - Numis issues a broker note on Ibstock Plc Ord 1p Wi
Numis today initiates coverage of Ibstock Plc Ord 1p Wi (LON:IBST) with a add investment rating and price target of 235p. Story provided by StockMarketWire.com

09:00 02/12/2015
Broker Forecast - Barclays Capital issues a broker note on Ibstock Plc Ord 1p Wi
Barclays Capital today initiates coverage of Ibstock Plc Ord 1p Wi (LON:IBST) with a overweight investment rating and price target of 250p. Story provided by StockMarketWire.com

08:20 02/12/2015
Broker Forecast - JP Morgan Cazenove issues a broker note on Ibstock Plc Ord 1p Wi
JP Morgan Cazenove today initiates coverage of Ibstock Plc Ord 1p Wi (LON:IBST) with a overweight investment rating and price target of 240p. Story provided by StockMarketWire.com

Update on Financial Calendar
RNS
RNS Number : 3533L
Ibstock PLC
08 January 2016

Ibstock plc



Update on Financial Calendar





Ibstock plc announces the following dates in its 2016 financial calendar:



Monday 18th January 2016
Trading update for the year ended 31 December 2015



Thursday 10th March 2016
Preliminary results for year ending 31 December 2015

I hold a few of these, ibst held up strongly since the new year market falls.

Trading Update
RNS
RNS Number : 0883M
Ibstock PLC
18 January 2016

18 January 2016

Ibstock plc



Trading Update



Ibstock plc ('Ibstock' or the 'Group'), a leading manufacturer of clay bricks and concrete products with operations in the United Kingdom and the United States, today issues a trading update for the year ended 31 December 20151.



Recent Trading Performance



The Group continues to trade in line with expectations and it is expected that adjusted EBITDA (after adjusting for exceptional items, principally related to the costs of acquiring the operating entities in February 2015 and then through the Initial Public Offering in October 2015), will be in line with market expectations.



Group revenue for the year ended 31 December 2015 was up 9% whilst revenue for the six months ended 31 December 2015 was up 7% compared with the second half of 2014.



Revenue from clay and concrete products in the UK, which represents approximately 80% of Group revenue, was up 9% for the full year compared to 2014. The growth in revenue in 2015 primarily reflects a stronger pricing environment for clay bricks. Despite the release and reduction of brick stocks by some housebuilders and distributors, total UK industry brick demand continued to exceed estimated annual domestic production capacity during the year.



Clay product revenue increased by 13% on the equivalent period in 2014; however, concrete product revenues in 2015 were 1.5% lower than 2014, with increased revenue in new build housing related products - including roof tiles - outweighed by lower activity in fencing related products and rail products - where projects have been delayed. Concrete product revenue into the UK fencing sector in 2014 had been boosted by unusual weather conditions in the first half of that year.



Revenue in the US was up 10% (8% after adjusting for exchange rate differences) for the full year compared to 2014 reflecting a combination of rising volumes and higher average prices which include the benefit from a more favourable product mix.



As at 31 December 2015, net debt was lower than management expectations as a result of strong working capital management, giving a year end leverage which is expected to be c1.4 times adjusted EBITDA. Some of this improvement is timing related and is anticipated to unwind through 2016.



During 2015 the Group commenced construction in the UK of an additional clay brick factory in Leicestershire - which will expand Ibstock's UK clay brick capacity by c13% - and the installation of a new concrete tile line at the Leighton Buzzard facility, which will broaden the Group's concrete tile product range. Both projects are progressing in line with expectations, with the concrete tile line expected to be operational in the second half of 2016 and the additional brick factory expected to commence commissioning in the second half of 2017.



Price negotiations for 2016 with all our major UK brick customers have now been concluded and are in line with management expectations.



The Group will announce its preliminary results for the period ending 31 December 2015 on 10 March 2016.

Questor-share-tip-Avoid-Ibstock-as-private-equity-heads-for-the-exit.

ah yes .... had forgotten that was one reason i was never tempted by these

Final Results

Financial Highlights:
n
Results in line with expectations - strong growth in revenue and profit

n
UK revenue ahead by 9% year-on-year, largely reflecting stronger clay brick prices

n
Continued improvement in US performance - revenue up c.10% year-on-year in local currency

n
Generating attractive returns: 26% EBITDA margin and 20% ROCE

n
Strong free cashflow from operations of £69m reduced net debt to £145m (less than 1.4x adjusted EBITDA) - with debt reduced faster than anticipated

n
Listing on the London Stock Exchange completed successfully on 27 October 2015


Operational Highlights

n
Market fundamentals remain supportive in UK and US

n
Major capital projects progressing to plan and on budget

o
New Leicestershire brick plant to increase UK capacity by 100m bricks (+13%), with commissioning scheduled for H2 2017

o
New concrete tile line expected to be operational in H2 2016

n
Price negotiations for 2016 concluded - all major customers and channels in line with management expectations

n
Safety and customer service metrics compare favourably with industry benchmarks

Broker Forecast - Jefferies International issues a broker note on Ibstock Plc

BFN

Jefferies International today initiates coverage of Ibstock Plc (LON:IBST) with a buy investment rating and price target of 260p.

Story provided by StockMarketWire.com

Bought some today, as is bouncing once again a bit much stronger that the builders on % terms. Well undervalued by the last update.
Interim results due 5 August, 3 weeks away, it seems some are already buying ahead of them

yet MBH is currently out of fashion ..... that company is also forecasting very good results i recollect but can't see when next figures are due

IC RESUME
26 May 2016

Brickmaker Ibstock (IBST) reported brisk sales in the first four months of this year, thanks mainly to continued growth in the house building sector. However, this has been offset to some extent by destocking in the builders merchant supply chain, which primarily serves the repair, maintenance improvement (RMI) market. Good weather in the US has also helped to underpin the group’s clay business.
-------------
11 May 2016
not-so-boring cheap growth share
There's a lot to be said for the steady and often handsome returns to be had from investing in boring stocks and oft-quoted fund-management legend Peter Lynch, who made his name at the helm of the Fidelity Magellan fund, is a man who has had a lot to say on the subject. However, my Peter Lynch-inspired stock screen, which is meant to search out what he described as 'stalwart shares', has proved anything but boring over the past four years, producing very erratic results..............
---------------------
14 march 2016
Brick maker Ibstock growing top line but slow start to 2016
Shares in Ibstock (IBST) started trading as recently as October last year, and its complex history explains the lack of comparatives. Ibstock was bought by CRH (CRH) in 1999 before being sold to private equity firm Bain Capital Europe LLP prior to the flotation.

Ibstock is the UK's largest clay brick manufacturer, with around 40 per cent of the market. It also has a US division called Glen-Gery. And to give some idea about how the group as a whole is performing, Ibstock has released some pro-forma numbers that show revenue up by 10.6 per cent on an annualised basis, with adjusted cash profits up by nearly two-thirds at £107m.

The UK business, which accounts for 81 per cent of group turnover, saw revenue increase by 9 per cent to £336m and adjusted cash profits by nearly three-quarters to £99m. Much of this reflected a renaissance in demand for bricks and the ability to push through higher prices. Sales would have been higher without some destocking, although this is expected to reverse in the Spring. In the US, revenue rose by 9.5 per cent at constant currencies to £76.5m and cash profits by 12.7 per cent to £8m, with strong demand from both residential and non-residential markets.

Analysts at J.P. Morgan Cazenove are forecasting adjusted pre-tax profits for the year to December 2016 of £96m and EPS of 19p (from £64m/13.3p in 2015).

Moving higher again after the morning being on the red, just now a very large buy 100K

15:40:07
143.28p
100,000
£143.28k

144.50p

Trying to break up from yesterday's highs

though the market is down today the stock is surging ahead and breaking 150p at the moment on a stronger order book and though the volume is not high the buys are taking charge on a good way so now is 151.40p +2.60p

sure has, but i am also amazed at the minuscule volume that is traded - currently <120k, and that does not look unusual

Volume is never too high as there are not many shares free either, but is mainly the uptrend and buyers in charge and stronger order book

Latest trade was large and paying premium

10:55:26
153.72p
19,516

the climb keeps going as larger trades are appearing on the ticker at a higher price

11:41:36
155.00p
50,000
£77.50k

i assume you're already out, as i see sp has now clunked by 7.2p to 150 ..... such are always the hazards of dealing in very low volume stocks

No, just bought some more @ 151.70p and the reason is below ( posted somewhere else ....

Why down today?
The order book was weak 17 v 29 a bit of recovery at the moment, meaning the MMs decided to put orders on the offer side and triggered sells "AT" most likely to cover ( filled ) their book for yesterday's buys.

Some funny trades Paying 156p when offer price was 150p

10:31:58
156.00p
5,000K

10:31:48
156.00p
16,980K

Once again the same game as yesterday, opening lower as there is no orders yet place on the order book and then at 9am turn up after a large buy.

They say shares on the order book should not be touch until after 9am, as it seems the order are not yet place and is very volatile on a large spread before this time.

The prices are cheap but if one wants to buy on a large size ( than 500 shares ) then you have to pay large premium, below a couple when offer price was around 150p and 152p

09:00:45
153.99
9,042
£13.92k

09:17:22
153.94
15,000
£23.09k

And yet again starting lower, but soon recoup the loses and already on the up on low volume, but stronger order book on the bid side is helping on the rise.

Not long now for the Interim results, next Friday the 5th August, so one week left to fill the boots.

152.75p +10.65p

Ibstock - a leading manufacturer of clay bricks and concrete products - reports continued growth in the six months to the end of June.

Revenues rose by 3.3% to £210.0m and adjusted EBITDAi increased by 7.3% to £55.6m.

Profit before taxation for the period of £37.9 million (1H 2015: £77.0 million including net exceptional benefits of £51.8 million, excluding these gives a comparable profit before taxation of £25.2 million).

Chief executive Wayne Sheppard said: "I am pleased to report another robust profit and cash generation performance by Ibstock, combined with excellent progress with our major UK investment projects."

"The EU Referendum result has added uncertainty to our outlook but, in advance of the important autumn period for new home sales, it remains too early to judge its full impact. It is reassuring however that, to date, current trading continues at normal seasonal levels. Contingency plans will enable us to balance production with sales volumes in the remainder of the year as necessary."

"The fundamentals supporting the UK housing market remain in place. The sector continues to receive focused government support, mortgage availability is good and there remains an undersupply of new homes. Our businesses are well prepared for the challenges and opportunities that our markets may present and we look to the future with confidence."

# Group revenue for the six months ended 30 June 2016 was £210.0 million (1H 2015: £148.9 million includes four months' trading results only)

# Profit before taxation for the period of £37.9 million (1H 2015: £77.0 million including net exceptional benefits of £51.8 million, excluding these gives a comparable profit before taxation of £25.2 million)

# Adjusted EPS 8.2 pence

# Earnings per share of 7.4p (1H 2015: 31.8p including net exceptional benefits and before increase in weighted average number of shares arising from pre-IPO share reorganisation)

well done .... called that spot on

the following is almost obvious, though the market is choosing to pretty much ignore in the sector ....
The fundamentals supporting the UK housing market remain in place. The sector continues to receive focused government support, mortgage availability is good and there remains an undersupply of new homes

158.20p +2.20p

Brokers views are well ahead of prices now

08 August 2016
Deutsche Bank: Recommendation Buy - Target Price 181.00p
Beaufort Securities: Recommendation Buy
JP Morgan Cazenove: Recommendation Overweight - Target Price 170.00p

BREAKOUT

159.20p +3.20p

Breaking out from previous intraday high of 158.50p two weeks ago

Broker Forecast - Jefferies International issues a broker note on Ibstock Plc

Jefferies International today reaffirms its buy investment rating on Ibstock Plc (LON:IBST) and raised its price target to 190p (from 170p).

That's a biggie 125K buy early on the morning and share price on the way up though only by a penny so far ......
Let's see if we can finished over 160p now, considering the market is down

08:46:53
159.50p
125,000
$199.38k

160.50p +2p (+1.26%)

Breaking the 160p mark now and looking ahead as the order book on the bit side is very strong at the moment

161p +2.50p

The stock is on the rise again on a higher BREAKOUT. MMs are manipulating the order book from time to time to flash sellers, once done up again.

165.60p +4.50 (+2.80%)

a very good start of the day as the BREAKOUT is on an is open space to 180p now

168.90p +8.40 (+5.23%)

She is really going places today with volume well over the normal at this time of the day 2 hours gone and 442K already

what a cracker this has been for you
very well done

172.50p +12.00 (+7.48%)

and the movement UP goes on and on

BUILDERS AND PLUMBERS MERCHANTS MARKET REPORT - UK 2015-2019 ANALYSIS
HTTP://www.amaresearch.co.uk/Builders_Merchants_Market_15.html

Construction related stocks best risers today
IBST despite the large rise today is still under performing the other two on the 3 month chart

Ibstock 173.15p +7.88%
Polypipe G. 281.25p +5.61%
Marshalls 297.20p +4.72%

---------------------------------- 1 month -------------------------------------------------- 3 month --------------------------------

Close the bargains at 173.50p on a T+3
running out of time of the T+20 and T+15 and share price well ahead on the upper band of the Bollinger Bands and Stochastic also at overbought

a 16.72% overage gain or 20.75% and 13.40%

"Ibstock’s legacy shareholder, Bain Capital, has sold 21% of its shareholding (40.5m shares) in the group. This equates to 10% of Ibstock’s share capital and has reduced Bain’s shareholding in the group to 37%. The placing price is 175p per share, a near 6% discount to the most recent close (186p). The backdrop to the disposal is the recent recovery in the Ibstock share price towards its 190p IPO level. We recently initiated coverage on Ibstock with an ‘Outperform’ rating. We believe the stock offers good quality exposure to what remains a structurally attractive UK brick market, despite near-term uncertainty, along with room for better returns and margins from its US operation. Current price target is 207p."

Bought some @ 164.79p,
asking for premium on a long settlement and not many shares 741 on the order book at 164.80 offer

reasons: Had a large drop from 183p after a placing last week, should be ready to bounce from here as it gets some equilibrium at those lower prices. Current price target is 207p and EPS of 19p so on a forward PE of 8.67

166.10 v 166.70p

Still early days but the share price is up from the price I bought and for the day, but most important the order book is now stronger on the bid side

DEPTH 27 v 24

was 18 v 25 earlier

167.10p 1.20p (+0.72%)

What have change the direction on today's share price, a large buy early this morning delayed, just appeared on the ticker

09:48:55
175.2625
600,000

Finishing with a Candlestick "hammer" would be very bullish

170.10p +3.00 (+1.80%)

The bounce is on and is strong

166.25p

moving ahead very strongly this morning after holding around lows lately
strong order book
DEPTH 27 v 20
Showing a clearly double bottom shape on the chart .... W



useless MAM charts, with spikes everywhere

Britain sets out 5 billion-pound homebuilding boost - Reuters

Britain launched a 5 billion-pound homebuilding stimulus package on Monday, including plans to borrow 2 billion pounds to help address a long-term housing shortage that has become a major economic problem.

The announcement comes on the second day of the ruling Conservative Party's annual conference, which the government is using to set out how it wants to leave the European Union and tackle social divisions exposed by the June Brexit vote.

Appealing to voters who have been shut out of the housing market by years of rising prices and tight lending conditions, the government said it wanted to spend 2 billion pounds to boost housebuilding by using surplus public land and helping new homebuilders into the market.

"We'll use all the tools at our disposal to accelerate housebuilding and ensure that over time, housing becomes more affordable," finance minister Philip Hammond said in a statement before his speech to the conference.

Hammond will also promise to deliver a new economic plan next month, citing a need to balance the competing demands of fiscal discipline and long term investment as Britain comes to terms with its EU exit.

The government also outlined how a 3 billion pound stimulus fund, made up of money already earmarked for housing, would be used to fund 1 billion of short-term loans to small homebuilders and 2 billion in long-term infrastructure projects.

The new fund would help build 25,000 new homes by 2020 while the plan to use public land would enable the building of a further 15,000 in the same period.

Those targets are modest compared to the estimated 300,000 homes per year that a committee of lawmakers estimate Britain needs to meet demand and cool price growth. The country has not built more than 200,000 homes in single year for a decade.

Although the housing market has shown signs of cooling since the vote to leave the EU, a chronic shortage of properties keeps prices out of the reach of many young and low-income Britons.

Hammond's predecessor, George Osborne, made several attempts to speed up home building during his six years in the job.

Trading Update
RNS
RNS Number : 1769U
Ibstock PLC
16 January 2017
 
 
 
 
Ibstock plc
Trading Update
 
 
 
Ibstock plc ('Ibstock' or the 'Group'), a leading manufacturer of clay bricks and concrete products with operations in the United Kingdom and the United States, today issues a trading update for the year ended 31 December 2016.
 
The Group continues to trade as anticipated with adjusted EBITDA in line with expectations.
 
Group revenue for the year ended 31 December 2016 was up 5%.
 
Revenue from clay and concrete products in the UK, which represents approximately 80% of Group revenue, was up 2% for the full year compared to 2015. The increase in revenue in 2016 reflects low single digit volume growth for clay brick and further volume and price growth in the concrete businesses. Despite the release of brick inventory by distributors as previously reported, particularly in the first half of the year, brick sales volumes for the full year exceeded 2015. Growing house builder activity supported a stronger second half and national brick imports declined significantly over the year.
 
Revenue in the US was up 18% (4% at constant exchange rates) for the full year compared to 2015, principally reflecting a combination of higher average prices and the benefits from a more favourable product and end use sector mix.
 
As at 31 December 2016, net debt declined compared to prior year despite significant spend on previously announced major projects, and was in line with management expectations.
 
During 2016 the Group progressed with the construction in the UK of an additional clay brick factory in Leicestershire which will expand Ibstock's UK clay brick capacity by c.13%. This project is making good progress and will commission in the second half of this year.
 
Installation of a new concrete roof tile line at the Leighton Buzzard facility was completed within budget and commissioning commenced during August 2016 adding c.5% to UK concrete roof tile market capacity. First projects using the new tiles, which broaden the Group's concrete tile product range, have been completed and have been well received by key customers.
 
Price negotiations for 2017 with all our major UK brick customers have now been concluded and are in line with management expectations.
 
In the UK, following a full consultation process with affected members, the Ibstock defined benefit pension scheme will close to future accrual with effect from 31 January 2017. All scheme members have agreed to join the company's defined contribution scheme with effect from 1 February 2017.
 
The Group will announce its preliminary results for the year ended 31 December 2016 on 7 March 2017.
 

Peel Hunt Hold 183.00 175.00 190.00 Downgrades

Berenberg today:
"Ibstock (Buy, 34% upside) – our top pick: As the leading manufacturer of bricks in the UK, Ibstock is well placed to take advantage of these strong fundamentals. Its new SM3 plant should help the group take market share and lower its cost base while its US exposure will continue to be supportive to growth. Strong FCF generation will aid its bolt-on strategy and increase the probability of further shareholder returns.
Valuation: 11.7x 2017 P/E; 8.9x EV/EBITDA."

15 May
Barclays...
285.00
Overweight

AGM Trading Update
RNS
RNS Number : 0183G
Ibstock PLC
24 May 2017
 
24th May 2017
Ibstock plc
 
AGM Trading Update
 
 
Ibstock plc ('Ibstock' or the 'Group'), a leading manufacturer of clay bricks and concrete products with operations in the United Kingdom and the United States, today provides a Trading Update for the four months ended 30 April 2017 ahead of its Annual General Meeting, which is to be held at 2:00 pm today at the offices of Citigate Dewe Rogerson, 3 London Wall Buildings, London Wall, London EC2M 5SY.
 
Trading Summary
 
The Group has shown encouraging trading momentum in the first four months of 2017.
 
Our UK brick sales have continued to progress in the first four months of 2017 principally reflecting good volume growth into the new build residential housing market and a return to normal levels of sales through Builders Merchants. Price increases by sales channel have been achieved in line with expectations with average pricing year to date reflecting the increased new housing volumes.
 
The UK concrete businesses have achieved a good start to the year, whilst in the US an unusually mild winter boosted sales in the early months of the year however activity in March and April has fallen back to more traditional seasonal levels.
 
We continue to progress our organic growth investment projects with the commissioning of our new 100 million brick per annum soft mud factory in Leicestershire anticipated to commence in the fourth quarter of 2017. Forticrete's new concrete roof tile manufacturing line is now in production and the new innovative roof tiles have been well received by the market. The new kiln project at Lodge Lane is also progressing to plan.
 
Outlook
Market fundamentals in UK remain robust with the demand for new housing in particular continuing to underpin activity levels in both our clay and concrete businesses. At this early stage in the US building season we anticipate a steady performance in our US business.
 
The Board expects another year of progress for the Group and its expectations for the full year remain unchanged.
 
The Group's results for the six months to 30 June 2017 will be announced on 10 August 2017.

A good steady sp climb.

19 Jun
Peel Hunt
265.00
Hold

Interim results

09:20 06/12/2017
Broker Forecast - Peel Hunt issues a broker note on Ibstock Plc
Peel Hunt today upgrades its investment rating on Ibstock Plc (LON:IBST) to buy (from hold) and raised its price target to 285p (from 265p). Story provided by StockMarketWire.com

Ibstock PLC (IBST:LSE) set a new 52-week high during today's trading session when it reached 265.00. Over this period, the share price is up 45.13%

8 Jan
Deutsche Bank
292.00
Buy

Sharecast - Analysts at Numis Securities took a look at the current position of the brick industry in the UK on Tuesday, concluding that while sales volumes across the nation were expected to remain "broadly flat", supply and demand dynamics remained attractive, and forecast higher prices too.
"Looking to 2018, despite an expected increase in UK production, we believe that sales volumes by UK manufacturers will be flat (as 2017 was augmented by sales from inventory, which we do not think can repeat). We, therefore, expect demand growth to be met by an increase in imports, and this dynamic has historically led to higher brick prices," the report read.
Indeed, Numis added it would "not be surprised" to see average 2018 brick price inflation in the mid-single digits, indicating share price upside for the likes of Ibstock and Forterra.
Christen Hjorth, along with the co-authors of the industry review, said she believed that it was likely that growth for UK brick producers would be a mirror image of 2017, but noted that there were important mix dynamics to account for.
In the same report, Numis indicated that Ibstock would likely outperform the industry with sales growth of 1%, projecting 5% growth at Forterra, driven by planned increases in available capacity. In parallel, the firms were expected to achieve average price increases of 4% and 4.9% over the year, respectively.
"Driven by our peer group analysis, we believe that an average 2019 P/E ratio of 12.5x for the brick sub-sector is attainable on a one-year view. Based on this and an assumed 5% P/E ratio discount for Forterra (to reflect Ibstock's larger scale/liquidity), we set our target price at 288p/share for Ibstock (from 270p) and 335p/share for Forterra (unchanged). This suggests 15% and 19% upside, respectively, and we, therefore, maintain our Add recommendations for both companies."

Final results

Financial Highlights:

n
Strong growth in revenue and adjusted EBITDA in line with management's expectations
n
Net debt1 to EBITDA at 1.0x
n
Continued strong underlying cash conversion1
n
Successful refinance of debt in March 2017
n
Final dividend of 6.5 pence per share (2016: 5.3 pence per share) making the 2017 full year dividend 9.1 pence per share (2016: 7.7 pence per share)
n
Announcement of the Group's supplementary dividend policy

Operational Highlights

n
Ibstock Brick benefitting from good activity levels within the UK new build housing sector with brick volumes ahead year-on-year supported by stock reductions
n
Continued growth in UK Concrete
n
Investment in additional UK brick capacity to meet demand

‐
New 100m capacity brick plant in Leicestershire commenced commissioning in Q4 2017 and will expand the Group's UK brick capacity by c.13% when in full production in FY2019
‐
Replacement of the brick kiln at the Lodge Lane blue brick plant in Cannock on schedule, with commissioning well advanced

n
New roof tile project at Forticrete now completed with good demand take-up from major housebuilders
n
US performance down year-on-year with a slowdown evident from the Spring continuing through the second half of 2017
n
Joe Hudson joined the Group as CEO Designate in January 2018 and will take up the CEO post as part of an orderly succession process

13:20 05/04/2018
Broker Forecast - Exane BNP Paribas issues a broker note on Ibstock Plc
Exane BNP Paribas today reaffirms its outperform investment rating on Ibstock Plc (LON:IBST) and raised its price target to 310p (from 280p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

Analyst Site Visit and Sale of Surplus Land
RNS
RNS Number : 5154S
Ibstock PLC
26 June 2018





26 June 2018


Ibstock plc

Analyst Site Visit and Sale of Surplus Land

Site Visit

Ibstock plc ('Ibstock' or the 'Group'), a leading manufacturer of clay bricks and concrete products with operations in the United Kingdom and the United States, is hosting a site visit for analysts and investors today to its new brick factory at the Group's manufacturing site at Ibstock, Leicestershire.

The event will focus on Ibstock Brick's UK manufacturing operations and will include a tour of the new factory. No material new information will be disclosed.

Sale of Surplus Land

Ibstock is also pleased to announce that it has entered into an unconditional contract for the sale of a former quarry near Bristol, England, for a consideration of £9.3 million in cash. The consideration is payable in full on completion, which is expected to be 31 August 2018, and it is anticipated that the sale will generate a reported pre-tax profit on disposal of c. £6 million.

Cant make enough bricks with current facilities!!!!

10:20 31/07/2018
Broker Forecast - Numis issues a broker note on Ibstock Plc
Numis today upgrades its investment rating on Ibstock Plc (LON:IBST) to add (from hold) and cut its price target to 270p (from 310p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

08:40 07/08/2018
Broker Forecast - Berenberg issues a broker note on Ibstock Plc
Berenberg today reaffirms its buy investment rating on Ibstock Plc (LON:IBST) and cut its price target to 310p (from 330p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

Maybe of interest.

Recent buys:

Aviva 31/7/18 25.4 million shares
Vulcan 29/8/18 approx 10 milliom shares

Has a yield of approx 6.3 (2018) forecast 8.1 and 9.1 coming years

Chart not impressive.

Bought a few in hope.

Disposal of US Brick Business and Trading Update
RNS
RNS Number : 2818I
Ibstock PLC
22 November 2018

Ibstock Plc
Disposal of US Brick Manufacturing Business and Trading Update

Disposal of Glen-Gery
Ibstock plc (the "Group" or "Ibstock") today announces the sale of the entire issued share capital of Glen-Gery, its US brick manufacturing business, to Brickworks Limited for an enterprise value of US$110 million on a debt free cash free basis. The value equates to over 8 times Glen-Gery's last twelve months EBITDA to June 2018, as reported.
As part of the transaction Brickworks Limited will assume certain liabilities, including an associated pension liability, and the net cash inflow for the Group is expected to be approximately US$95 million, subject to any closing account adjustments. We expect the transaction to close in the coming days.
The proceeds received by the Group will be used to repay debt. As a result of the disposal, and in combination with our strong underlying cash generation, we expect our net debt to be around £50 million by the end of 2018. This disposal further strengthens the Group's balance sheet and leaves us well positioned to invest to deliver long term growth as we focus on our core markets in the UK.
Ibstock Chief Executive Officer, Joe Hudson, commented:
"At the interim results in August we announced that we were undertaking a strategic review of certain aspects of our business, including our US operations, with a further update to be given at the full year results in March 2019.
"We have concluded that opportunities to grow the US business are not in line with our overall strategic objectives, and the decision was taken to dispose of these assets and refocus the Group on its core markets here in the UK. Following a competitive process, we believe that this is the best outcome for both Glen-Gery and Ibstock plc.
"I would like to thank our colleagues at Glen-Gery for their hard work and professionalism and we wish them the very best for the future.
"This divestment augments our strong underlying cashflow generation, leaving us with a strong balance sheet. Our capital allocation and shareholder return priorities remain unchanged, and we continue to assess both organic and inorganic investment options in the UK as we look to deliver long term growth."
Trading Update
Ibstock is pleased to confirm that the previously announced enhanced maintenance program in its UK brick business is progressing well and the Group remains on course to deliver adjusted EBITDA of £121m to £125m for the year ended 31 December 2018 (which assumed a full year 2018 contribution from Glen-Gery of £11 million). In addition, the Group announces it has generated proceeds of £3.7m from a further sale of surplus land which, when combined with our previously announced property sale, results in a total EBITDA impact of £9.5 million for the year. This amount is excluded from our adjusted EBITDA guidance above.
Whilst the uncertainty around the ongoing negotiations for the UK's withdrawal from the EU persists, the market backdrop in the new build housing sector remains positive. We will provide a further trading update for the year ended 31 December 2018 on 17 January 2019 as planned.

08:20 23/11/2018
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Ibstock says 'well positioned' for 2019; maintains full-year outlook
StockMarketWire.com
Ibstock said Thursday it still expected adjusted earnings to meet expectations for the full year owing to price and volume growth in UK clay brick business.

'The Group has continued to trade as anticipated and adjusted EBITDA (earnings) for the year is expected to be in line with expectations,' the company said.

The UK business is expected to generate low single digit growth in adjusted EBITDA, in line with expectations, driven by its UK clay and concrete products revenues, which rose 8% for year from a year earlier.

Net debt was cut 'significantly' compared to the prior year 'due to strong underlying cash generation, as well as receipt of the proceeds from the disposal of Glen-Gery and surplus properties throughout the year,' the company said.

The company expected to report £9.5m of profit on disposal of surplus property during the year.

Despite ongoing political and economic uncertainty, 'we enter 2019 well positioned and with a strong balance sheet. We continue to assess investment options in the UK as we look to deliver long term growth,' it added.

At 8:47am: (LON:IBST) Ibstock Plc share price was -1.5p at 234.5p


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