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Michelmersh Brick - Pre-close Trading Update

RNS Number : 7723Z
Michelmersh Brick Holdings PLC
15 January 2020
 

15 January 2020

Michelmersh Brick Holdings Plc

("MBH", the "Company" or the "Group")

 Pre-close Trading Update 

Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer, today announces a trading update ahead of its final results for the year ended 31 December 2019. The Group intends to report its 2019 full year results on 31 March 2020. 

The Board expects that underlying revenue and profit from the Group, enhanced by the acquisition of Belgian business, Floren & Cie, in February 2019, will be in line with market expectations. The Group has experienced strong cash performance in the second half of the year which has resulted in net debt as at 31 December 2019 being better than market expectations.

 

For further information, please contact:

Michelmersh Brick Holdings plc
Frank Hanna, Joint CEO

Stephen Morgan, Finance Director

Tel: +44 (0)1825 430412

Canaccord Genuity Limited (NOMAD and Broker)

Bobbie Hilliam

Georgina McCooke

Tel: +44 (0)20 7523 8000

Yellow Jersey PR

Charles Goodwin

Annabel Atkins

Harriet Jackson

 

Tel: +44 (0)7747 788 221

Tel: +44 (0)7983 557 851

 

About Michelmersh Brick Holdings PLC:

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Hathern Terra Cotta and Floren. These divisions operate within a fully integrated business combining the manufacture of clay bricks 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 over 120 million clay bricks and pavers per annum. Michelmersh currently owns most of the UK's premium manufacturing brands and is a leading specification brick and clay paving manufacturer.

Michelmersh strives to be a well invested, long term, sustainable, environmentally responsible business. Opportunity, training and security for all employees, whilst meeting the needs of stakeholders, are at the forefront of everything we do. We aim to lead the way in producing some of Britain's premium clay products and enhancing our environment by adding value to the architectural landscape for generations to come.

We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".

Please visit the Group's websites at: www.mbhplc.co.uk and www.bimbricks.com

 


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Quick facts: Michelmersh Brick Holdings Plc

Price: 90.5

Market: AIM
Market Cap: £84.81 m
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