Bonkers Bargains: resilience in a tough market
The UK construction materials sector is firmly out of favour, reflected in the moribund share prices of many companies. This presents an opportunity to pick up shares in good-quality companies trading at rock-bottom valuations. One such cash-rich company is our Bonkers Bargain opportunity, covered here, with the security of plenty of tangible assets and cash. In a very challenging market the latest results offerred reassurance, highlighting the quality of this excellent business. (Premium)
Britain's construction industry saw its biggest fall in activity in more than three years in 2023, as higher interest rates led to one of the steepest falls in house-building since the 2008-09 recession. Unfortunately, the industry isn’t helping itself, with concerns over construction standards putting off buyers of new-build properties, with many believing that older houses are better than new-builds and a general lack of trust in housebuilders. However, in the construction sector gloom, one small AIM company covered here, manufacturing specialist, high-quality products, looks particularly appealing to us. A specialist manufacturer Established in 1997, Michelmersh Brick Holdings (AIM: MBH) has developed…