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.

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
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). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

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


Story provided by StockMarketWire.com