Pre-close Trading Update

RNS Number : 9331M

Michelmersh Brick Holdings PLC

14 January 2019

 

14 January 2019

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 2018, scheduled for release on 26 March 2019. 

The Board expects that underlying revenue and profit from the Group will be in line with market expectations with strong cash generation resulting in year-end net debt below forecast.

The Company experienced a good operational performance in the final quarter following the planned maintenance shut downs and the Board continues to focus on identifying further earning enhancing opportunities.

For further information, please contact:

Michelmersh Brick Holdings plc Frank Hanna, Joint CEO Stephen Morgan, Finance Director	Tel: [phone]
Canaccord Genuity Limited (NOMAD and Broker) Bobbie Hilliam Georgina McCooke	Tel: [phone]
Yellow Jersey PR Charles Goodwin Harriet Jackson Annabel Atkins	Tel: [phone] Tel: [phone]

About Michelmersh Brick Holdings PLC:

Michelmersh Brick Holdings PLC is a business with six market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh and Hathern Terra Cotta. 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 100 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.

 

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