Little news for my holdings to day so I thought I'd have a look at the FTSE 250 Heatmap and see what's going down.

I noticed  Ibstock the brick maker  is down ~9% which peaked my interest an wondered why.

I've always had a passing interest in LON:IBST as its highly cyclical and thought there must be some really nasty news hidden away.  Well I don't seem able to find it.

  • forecast annual core earnings of £50m after reporting better-than-expected third quarter trade - not great but pretty good in the circumstances
  • revenue in the three months to September 30 was at 88% of 2019
  • current trading performance is ahead of our previous internal base case for the full year
  • we benefitted from improving volumes to our housebuilding customers
  • reduction in net debt by the end of the year, compared to the £103m

Am I missing something?  My builder mate has been saying for months, if you have the space, buy building materials as they getting scarce.  His view is the suppliers will be able to price at a premium.  

Bricks are not a cheap or quick item to import, neither are they easy to produce locally as kilns need to be fired up.  I.e. there is a moat.

The Stocko value score is pretty awful but this is starting to look tempting.

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