Michelmersh Brick Holdings (MBH)

Sector:

Construction and Building Materials

Index:

FTSE AIM All-Share

95.63p
   
  • Change Today:
    -0.88p
  • 52 Week High: 105.50
  • 52 Week Low: 75.00
  • Currency: UK Pounds
  • Shares Issued: 93.68m
  • Volume: 193,458
  • Market Cap: £89.58m

Key Financials

  £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-10 31-Dec-09 31-Dec-08
Annualisation Factor 1.0 1.0 1.0
Dividend Yield 0.0% 0.0% 0.0%
       
Continuing Operations      
PE Ratio - Adjusted n/a n/a n/a
PE Ratio - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
PEG - Adjusted n/a n/a n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a
Operating Margin (29.63%)
(27.03%)		 (2.10%)
(2.10%)		 (7.49%)
(7.49%)
       
Continuing & Discontinued Operations      
PE Ratio - Adjusted n/a n/a n/a
PE Ratio - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
PEG - Adjusted n/a n/a n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-10 31-Dec-09 31-Dec-08
Net Gearing 54.98% 59.43% 54.27%

  £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-10 31-Dec-09 31-Dec-08
Price/Book Value 0.5 0.6 0.2
Price/Tangible Book Value 0.5 0.6 0.2
Price/ Cash Flow 43.5 (22.1) (13.8)
Price/Revenue 0.70 1.05 0.26
Price/R&D n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 64.63p 75.01p 76.67p
Net Cash per Share n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-10 31-Dec-09 31-Dec-08
Continuing Operations      
Revenue 23.34 17.85 24.25
EBITDA 0.51
1.12		 1.25
1.25		 (0.14)
(0.14)
Depreciation (7.43)
(7.43)		 (1.63)
(1.63)		 (1.68)
(1.68)
Net Interest (0.81)
(0.81)		 (0.62)
(0.62)		 (1.05)
(1.05)
Profit Before Tax (7.73)
(7.12)		 (1.00)
(1.00)		 (2.87)
(2.87)
       
Revenue per Share 43.48p 44.17p 60.02p
Pre-Tax Profit per Share (14.40p)
(13.27p)		 (2.46p)
(2.46p)		 (7.10p)
(7.10p)
Market Capitalisation £ (Millions) 17.72 18.79 6.26
Enterprise Value (EV) £ (Millions) 39.68 37.35 23.33
EBITDA/EV 1.29%
2.82%		 3.36%
3.36%		 (0.59%)
(0.59%)
Operating Margin (29.63%)
(27.03%)		 (2.10%)
(2.10%)		 (7.49%)
(7.49%)
Capital Employed £ (Millions) 65.49 56.31 55.63
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a
Invested Equity Capital £ (Millions) 45.93 37.82 38.63
       
Earnings per Share - Basic (9.82p)
(8.69p)		 (1.96p)
(1.96p)		 (6.40p)
(6.40p)
Earnings per Share - Diluted (9.82p)
(8.69p)		 (1.96p)
(1.96p)		 (6.40p)
(6.40p)
Earnings per Share - Adjusted (9.82)p (1.63)p (6.40)p
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted n/a n/a n/a
PE Ratio - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Tax Rate 31.79% 20.28% 9.97%
Dividend Cover n/a
n/a		 n/a
n/a		 n/a
n/a
Interest Cover (8.49)
(7.74)		 (0.60)
(0.60)		 (1.73)
(1.73)
       
Continuing & Discontinued Operations      
Earnings per Share - Basic (9.82p)
(8.69p)		 (1.96p)
(1.96p)		 (6.40p)
(6.40p)
Earnings per Share - Diluted (9.82p)
(8.69p)		 (1.96p)
(1.96p)		 (6.40p)
(6.40p)
Earnings per Share - Adjusted (9.82p) (1.63p) (6.40p)
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted n/a n/a n/a
PE Ratio - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a
Dividend Cover n/a
n/a		 n/a
n/a		 n/a
n/a
Return on Equity (ROE) (11.48%)
(10.16%)		 (2.10%)
(2.10%)		 (6.69%)
(6.69%)
Operating Cash Flow per Share 0.70p (2.11p) (1.13p)
Gross Cash Flow per Share cn/a cn/a cn/a
Cash Incr/Decr per Share 4.63p (4.17p) (5.11p)
Capital Expenditure per Share n/a n/a n/a
Dividend per Share n/a n/a n/a
Dividend per Share Growth n/a n/a n/a
Dividend Yield 0.0% 0.0% 0.0%
Shareholders Funds 37.10 30.38 31.04
Net Borrowings £ (Millions) 20.40 18.05 16.84
Net Asset Value per Share (inc. Intangibles) 64.63p 75.01p 76.67p

  £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-10 31-Dec-09 31-Dec-08
Shareholders' Funds inc Intangibles 37.10 30.38 31.04
Net Borrowings £ (Millions) 20.40 18.05 16.84
Net Gearing 54.98% 59.43% 54.27%
Cash & Near Cash 1.57 0.51 0.22
Cash 4.22% 1.66% 0.72%
Gross Borrowings 21.96 18.56 17.07
Gross Gearing 59.20% 61.09% 54.99%
Borrowings Under 5 years 21.96 18.56 17.07
Under 5 years 59.20% 61.09% 54.99%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 31-Dec-10 31-Dec-09 31-Dec-08
Shareholders' Funds exc Intangibles 34.69 30.31 30.97
Net Borrowings £ (Millions) 20.40 18.05 16.84
Net Gearing 58.79% 59.55% 54.38%
Cash & Near Cash 1.57 0.51 0.22
Cash 4.51% 1.67% 0.73%
Gross Borrowings 21.96 18.56 17.07
Gross Gearing 63.31% 61.22% 55.11%
Borrowings Under 5 years 21.96 18.56 17.07
Under 5 years 63.31% 61.22% 55.11%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Cover 31-Dec-10 31-Dec-09 31-Dec-08
Quick Ratio 0.30 0.41 0.17
Current Ratio 0.71 1.46 0.57

Key

* GAAP

a. Includes discontinued activities

b. Based on operating cash flow before tax

c. Not disclosed under IFRS

d. Includes non-current assets

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 3: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 4: Normalised ratios are shown in blue text

Note 5: Forecast figures based on normalised accounts.

 

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