Updates

Ibstock - EPS forecast of 19p and 22p over 2 years

May 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Ibstock produced results slightly ahead of forecast with revenue rising 11% to £213m and EBITDA up 65% to £107m. Eps was 16.2p. Strong cash flow from operations of £69m reduced net debt to £145m (less than 1.4x net / EBITDA).In the UK (81% sales) in spite of some softness in sales to yards due to de-stocking, all other channels were strong (with volumes and pricing up) and like-for-like sales rose 9% to £336m, while EBITDA increased 71% to £99m. The new Leicestershire brick plant (adding 100m bricks or +13% capacity) is on course for commissioning H2 2017.In the US (19% sales) revenues rose 10% to £76.5m while EBITDA grew almost 13% to £8m.Barclays describes Ibstock as an ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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