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Still loving Ibstock

By Chris Bailey of Financial Orbit | Friday 22 January 2021

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

It has taken me an extra day to respond but did you see the update from the market share leading clay and concrete building company Ibstock (IBST)? Although the full results are out in early March, the company said it expects to report adjusted EBITDA for 2020 of around the previous guidance (back in October) of £50 million.  I know this puts the company on a x20 EV multiple, the reality is that it is talking even more positively about 2021 as the CEO notes that ‘we are encouraged by recent market trends in the industry and the resilience of demand from our house builder’.  

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