Letters by company
Ibstock PLC
5 letters discussing IBST. Everything written about it on this site is on its ticker page.
- Palm Harbour Capital Q1 2026 Letter Palm Harbour Capital sold Solvay and Magnum’s, reallocating capital to a Portuguese logistics business and a Korean eyecare company. It argues that Odet’s control structure and Bolloré dividend could enable further consolidation, and makes the case for Cirsa’s regulated gaming franchises, online expansion and acquisition-led growth. first quarter 2026 CIRSA $3.4B082920 $961M0NFS
- Palm Harbour Capital Letter 2025 Q2 | 263 KB Palm Harbour Capital criticised Ocean Wilson’s proposed merger into Hansa as a transfer of value from minority shareholders and retained its view that Dalata was sold below the value of its hotel assets. The fund added Cuckoo Holdings, citing its Korean appliance franchises, rental-business stake and discounted holding-company valuation. second quarter 2025 0NFS 284740 $408MIBST $429M
- Palm Harbour Capital Q3 2024 Letter Palm Harbour Capital sold Everi, PAX Technology and Unieuro, while adding M. Dias Branco, a Brazilian packaged-food leader working through post-inflation pricing and operational changes. The portfolio thesis centers on corporate actions at OCI, Ocean Wilson and IGT, alongside undervalued industrial, consumer and infrastructure holdings with identifiable catalysts. Q3 2024 DNIYY $4BIBST $429MOCINF $981M
- Palm Harbour Capital Q4 2022 Letter Palm Harbour Capital added LNA Santé, arguing that its nursing-home business has stronger regulation, lower operating leverage and a different property model than Orpea or Korian. The fund sold Ringmetall on peak-cycle earnings concerns and remains positioned for valuation-driven opportunities amid inflation and rate volatility. fourth quarter 2022 LNA $289M0NEX IBST $429M
- Palm Harbour Capital Letter 2019 Q4 | 276 KB Palm Harbour Capital added positions and introduced Esprinet, Jost Werke, CIR and Aryzta as undervalued businesses with resilient economics or turnaround potential. It tendered Gamenet after Apollo secured control, while arguing that OCI’s operational disruption should ease and that CIR’s merger and asset sales could narrow its holding-company discount. fourth quarter of 2019 0NFS ARZTF $1.1BJST $1B
