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viewMichelmersh Brick Holdings Plc

Michelmersh Brick - Trading Statement

RNS Number : 6105C
Michelmersh Brick Holdings PLC
19 October 2015
 

Michelmersh Brick Holdings Plc

("MBH" or the "Group")

TRADING UPDATE

Full year profit before tax likely to exceed market expectations

Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer and landfill company, today reports to the market on a better than expected trading performance in the second half of the year to  31 December 2015, achieved through operating efficiencies, continued low energy costs and aided by the additional capacity from Freshfield Lane. Delivery volumes are below previous expectations as a result of a softening of the market, however average selling prices are ahead of those budgeted. As a consequence, the Group is likely to exceed the market expectations of profit before taxation for the year. The results for the full year are scheduled for release on 21 March 2015.

 

 Enquiries:

Michelmersh Brick Holdings

Martin Warner, CEO

Stephen Morgan, Finance Director

 

 01825 430 413

Cenkos Securities plc

Bobbie Hilliam (NOMAD)

Harry Pardoe

Alex Aylen (Sales)

 

020 7397 8900

Yellow Jersey PR

Dominic Barretto

Charles Goodwin

 

07768 537 739

07747 788 221 

 

 

 

 

 

 

 

 

About Michelmersh Brick Holdings PLC:

 

Michelmersh Brick Holdings PLC is a business with five leading market brands: Blockleys, Charnwood, Freshfield Lane, Michelmersh and Hathern Terra Cotta. These divisions operate within a fully integrated business combining the manufacture of clay bricks, tiles and pavers. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

 

Established in 1997 the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing approximately 70 million clay bricks, tiles and pavers per annum. MBH PLC currently owns most of the UK's premium manufacturing brands and is a leading specification brick and clay paving manufacturer.

 

Recently Michelmersh's products have been successfully used in prestigious projects such as the Nottingham Railway Station refurbishment, Manchester's Salford Quays regeneration project and the Lend Lease, Elephant and Castle redevelopment in London. We are also suppliers to high value housing developers such as Berkeley and St James Homes, delivering to key city regeneration projects such as Battersea Reach.

Further information on the Company can be found at www.mbhplc.co.uk.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Quick facts: Michelmersh Brick Holdings Plc

Price: 100

Market: AIM
Market Cap: £93.72 m
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