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Michelmersh Brick says demand strong as Carlton integrates well

Published: 18:29 22 Jan 2018 AEDT

House
Michelmersh now has capacity for 100mln bricks

Michelmersh Brick Holdings Plc (LON:MBH) has made good progress with the integration of recent acquisition Carlton Brickworks and full year 2017 numbers will meet market expectations.

“Demand from the house building and RMI markets continues to be robust and group's well-balanced forward order book for 2018 reflects this trend,” said the Sussex-based group.

WATCH: Michelmersh expecting strong second half following Carlton acquisition

Michelmersh bought Carlton in June for £31.2mln in a deal that increased its capacity to more than 100mln bricks.

Carlton is bedding in as expected and operational synergies are being implemented, today’s statement added.

READ: Michelmersh Brick scaling up and branching out regionally

Carlton only contributed for a week in the first half when sales rose to £16.2mln from £15.3mln and at the time Michelmersh said it expected a significant boost to second half earnings from the acquisition.

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