Analysts question value put on CRH brick business

Analysts have expressed doubt over valuations being put on CRH’s UK-based brick business Ibstock.

Reports surfaced, over the weekend that Ibstock could be set to go for £500m (€630m), with German roofing supplies group, Braas Monier joining a growing group of interested parties, which also reportedly includes private equity firm Bain Capital. Ibstock is believed to be part of the building materials giant’s non-core asset disposal programme –

“The speculation on the clay business is further evidence of progress with the disposal programme. However, we would caution on the speculated £500m price tag, as it looks high versus the estimated financial metrics of the business,” said Robert Eason of Goodbody Stockbrokers.