Industrials: Construction and materials – AIM – M cap £95m – Price 101.50p – Non client QV
MICHELMERSH BRICK HOLDINGS
FY24 a nadir, but FY25 looks more promising
Although Michelmersh’s (MBH’s ) FY24 results reflected tough markets, there are reasons for investors to be more enthusiastic about the outlook. H224 revenue was less poor than H1 and the early weeks of FY25 saw order intake continue to build. Furthermore, with the direction of interest rates expected to be down and government policies supporting spending, the outlook is promising. MBH is also attractively valued versus peers, trading at a material discount, while its yield is close to 5%. Its balance sheet remains ungeared, further reducing risks.
Michelmersh Brick Holdings: Edison
Mar 31, 2025Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.