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Equity Bottom-Up

Michelmersh Brick Holdings / Equity Bottom-Up

<p>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.</p>

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 — FY24 a nadir, but FY25 looks more promising

Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

<ul>
<li>The European fintech fund announces its unaudited Half Year Results for the six months ended 30 September.</li>
<li>The Company currently trades at an approximately 45% discount to the NAV per share after the performance fee of 159.5p.</li>
<li>Cash reserves with no debt was £22.4m, down from £29.3m on 31 March 2025. </li>
</ul>


The European fintech fund announces its unaudited Half Year Results for the six months ended 30 September.
The Company currently trades at an approximately 45% discount to the NAV per share after the performance fee of 159.5p.
Cash reserves with no debt was £22.4m, down from £29.3m on 31 March 2025. 


Hybridan Small Cap Feast: 2 December 2025

<ul>
<li>12th May: Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the price of cobalt, announced its intention to raise approximately US$230m through its Global Offer and the possible Admission on to the Main Market in June 2025.</li>
<li>Glencore International AG and certain entities and affiliates managed by Anchorage Structured Commodities Advisor, have agreed to participate as cornerstone investors, agreeing to invest, in aggregate, an amount representing approximately 20.5% of the Shares to be offered pursuant to the Global Offer.</li>
<li>9th May: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announces that it is considering an IPO onto the Main Market.</li>
</ul>


12th May: Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the price of cobalt, announced its intention to raise approximately US$230m through its Global Offer and the possible Admission on to the Main Market in June 2025.
Glencore International AG and certain entities and affiliates managed by Anchorage Structured Commodities Advisor, have agreed to participate as cornerstone investors, agreeing to invest, in aggregate, an amount representing approximately 20.5% of the Shares to be offered pursuant to the Global Offer.
9th May: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announces that it is considering an IPO onto the Main Market.


Pharos Energy Plc - Hybridan Small Cap Feast: 15/05/2025

United Kingdom

Michelmersh Brick Holdings Plc, through its subsidiaries, manufactures and sells bricks, tiles, and building products in the United Kingdom and internationally. It operates through Building Materials and Landfill segments. The company offers extruded wirecut facing bricks, clay pavers, paving accessories, and special shaped products under the Blockleys name; handmade bricks and specials under the Charnwood name; clamp-fired stock facing bricks in various colors and textures under the Freshfield Lane name; stock bricks in various colors under the Michelmersh name; and various bespoke and standard architectural components under the Hathern Terra Cotta name. It is also involved in landfill operations. The company was founded in 1997 and is based in Haywards Heath, the United Kingdom.

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Michelmersh Brick Holdings (MBH LN)

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....

Edison Investment Research

Hybridan Small Cap Feast: 2 December 2025

The European fintech fund announces its unaudited Half Year Results for the six months ended 30 September. The Company currently trades at an...

Hybridan

Pharos Energy Plc - Hybridan Small Cap Feast: 15/05/2025

obalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the...

Hybridan

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