Sep 29 2023
Industrials
Recent Research
CRH, Beckoning a new dawn
Sep 20 2023
Stora Enso, New CEO to accelerate turnaround
Sep 19 2023
Meet your Industrials Research team
Travis Perkins plc
Tooling up for growth
A Toolstation UK-themed investor day was timely as the business is pivotal to the medium-term growth aspirations of Travis Perkins. Achieving its 2027 target for Toolstation would...
CRH
Beckoning a new dawn
CRH’s primary listing will move to the US on Monday, September 25th. This is a significant event for the share, but the underlying business has no such destination in sight. Its journey...
Building products and distribution
Challenges set to last into 2024
Recent results revealed that 2023 is proving every bit as challenging as was feared for our lightside building materials coverage list. Moreover, the latest signals suggest any rebound...
Glenveagh Properties
Comfortable with FY24 forecasts
The significant progress made on the order book and planning permissions by Glenveagh year-to-date mean that the company can confidently reaffirm guidance of 7.5-8.0c in EPS in FY23...
Kingspan Group
Increased stake triggers mandatory offer for Nordic Waterproofing
It always seemed inevitable that once Kingspan took a stake in Nordic Waterproofing that it would ultimately seek to take full ownership of the business. This prospect has now...
Smurfit Kappa Group
Building the global packaging leader
The proposed Smurfit Kappa Group (SKG) and WestRock merger creates the clear global packaging leader. We believe SKG’s experienced management team can deliver initial $400m+ year one...
Smurfit Kappa Group
WestRock merger terms
WestRock holders will receive one Smurfit Kappa Group share and US$5/share cash for each WestRock share, equivalent to $43.51/share. The merger is targeting $400m-plus run-rate...
Vistry Group
To focus on Partnerships
Vistry Group will move to being a Partnerships-focused builder in the coming years as a result of its strategic review. The business will concentrate on the capital-light, high-returns...
Smurfit Kappa Group
Possible merger with WestRock
European packaging leader Smurfit Kappa Group is in discussions with US-listed packaging group WestRock regarding a possible merger. The proposed merged Smurfit WestRock group would...
Cairn Homes
FY23 guidance upgraded on higher volume output
Carin will be delivering more homes than expected in FY23, driven by strong demand and good progress on construction. Guidance has been increased, and we expect there to be c.5%...
