Michelmersh Brick Holdings PLC
20 January 2005
20 January 2005
Michelmersh Brick Holdings PLC
Pre Close Trading Statement
-Notice of results-
Michelmersh ('Michelmersh' or 'the Company') (AIM: MBH), the UK's largest
producer of handmade specification bricks and clay paviors, announces today that
its results for the year ended 30 November 2004, to be announced on March 21
2005, are expected to show revenues and earnings in line with current market
expectations.
The Company saw a strong performance in the second half, with all group
companies contributing to profitability. Following the commissioning of new
plant at both Blockleys and Charnwood, the Company achieved a record level of
production in November, with seven million units produced, establishing an
excellent platform for achieving targets for the current year.
This positive trend continued into December, with trading up by over 20% on
December 2003. With strong demand for all group products and a healthy order
book, the trend looks set to continue.
In November, Michelmersh won three awards at the Brick Development Association's
2004 awards for its Blockleys clay paviors and Charnwood and Michelmersh
handmade bricks.
The planning agreement relating to the quarrying, filling and subsequent
development of 59 acres of land at Telford has now been finalised and a planning
application for residential development of an initial 5 1/2 acres is in hand.The
Company expects this initial site will be brought forward for sale within the
next 12 to 18 months. The potential uplift in value of this land has not been
accounted for in the balance sheet.
Eric Gadsden, Chairman, commented: 'We are now beginning to see the benefits of
the considerable investment we have made in new plant, which will stand us in
good stead for future growth in profitability.'
For further information:
Martin Warner Russell Cook / Mark Jeremy Carey/Richard
Taylor Sunderland
Managing Director Charles Stanley & Co Ltd Tavistock Communications
Tel: 01442 870 Tel: 020 7739 8200 Tel: 020 7920 3150
227
rsunderland@tavistock.co.uk
Notes to editors
Michelmersh is a holding company with five subsidiary companies, Blockleys,
Michelmersh Brick & Tile, Charnwood and Duntons, which manufacture clay bricks
and paviors, and New Acres, which operates a landfill site.
Michelmersh has grown through acquisition and organic growth into a profitable,
cash generative and asset rich business. Since 1997, it has invested in excess
of £12 million in the modernisation of its plant and production processes and
now has the capacity to produce over 85 million bricks per annum.
Michelmersh floated on AIM on May 2004 and is currently capitalised at about £27
million.
Further information on the Company can be found at www.michelmersh.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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