Company
LON:IBST
We are a major manufacturer of clay and concrete building products. Our aim is to continue to extend our leadership in the building products industry by being our customers' partner of choice through providing consistent high quality, reliable and innovative products. These products when taken together with our strong focus on the customer has been a core driver in increasing and sustaining our market leadership positions. As a leading supplier of masonry cladding, roofing, utility and landscaping products we see opportunities to invest in new capacity, penetrate our markets further through innovative products and expand our existing product portfolios through either organic investment or opportune acquisitions.
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Builders and building materials
Clay brick volumes slumped by 90% in April amid COVID-19 lockdown but have improved, showing a 70% decline, since builders began returning to work
Builders and building materials
“Dividend cuts have commenced already and we expect some more to come. We cannot categorically rule out equity issuance but think they are unlikely,” the analysts said
Builders and building materials
Ibstock’s shares have fallen more than 18% since the start of May and the Swiss bank's analysts see low chance for further downside
Investments and investor services
Investors are expecting a cut of 0.25% in the benchmark short-term rate
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The day ahead includes interims from Lloyds and Taylor Wimpey along with the Federal Reserve's latest policy decision
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It will be a busy week for markets with a barrage of corporate earnings and interest rates decisions from the Bank of England and the US Federal Reserve.
Jamie Pike will be well-known to many investors as the current chair of RPC and Spirax-Sarco, while he has also been chairman at Ibstock and Tyman in recent years
Builders and building materials
The bank said with brick utilisation in the UK at “high levels” and the FTSE 250 firm ramping up production at its new factory in Leicester, any more growth was likely to be limited
Builders and building materials
While the brickmaker admitted that the uncertainty caused by Brexit was “unhelpful” and could affect consumer confidence and demand in the short-term, the medium-term fundamentals were “favourable”
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The day ahead includes full year results from Direct Line and GVC along with a trading update from Ashtead
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The Week Ahead brings updates from the likes of Aviva, Direct Line, L&G and Admiral, while investors can also bet on Paddy Power Betfair and GVC Holdings
Peel Hunt said it upgraded all ratings for Ferguson PLC, Keller Group PLC, and Volution Group PLC to ‘add’ from ‘hold’
Investments and investor services
The UK's premier share index finished down over 27 points at 6,834
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The Day Ahead will bring updates from the likes of Primark-owner Associated British Foods, a caffeine-free Whitbread, credit checker Experian, and software firm Sage
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Aside from the Brexit merry-go-round, the Week Ahead will bring UK inflation and retail sales numbers, plus updates from the likes of AB Foods, Persimmon, Bovis Homes, and Whitbread
Builders and building materials
“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”
Investments and investor services
“Overall, market fundamentals remain favourable and Ibstock is well-placed to benefit from this positive backdrop"
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The day ahead sees Cineworld and Legal & General report their first-half results
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Aside from HSBC's numbers, Prudential, L&G, Standard Life Aberdeen, and Hargreaves Lansdown are all on the results docket in the coming week
Builders and building materials
Given strong underlying brick demand, the Numis analysts have set their target price for Ibstock shares at 270p, down from 310p previously, but above current levels of 246p
