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Pin to quick picksMichelmersh Brick Holdings Share News (MBH)

Share Price Information for Michelmersh Brick Holdings (MBH)

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Share Price: 97.00
Bid: 96.00
Ask: 98.00
Change: 0.00 (0.00%)
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Michelmersh Says Full-Year Earnings To Rise On Belgian Acquisition

Wed, 15th Jan 2020 09:20

(Alliance News) - Brick manufacturer Michelmersh Brick Holdings PLC on Wednesday said its 2019 earnings, which were boosted by a recent acquisition, will be in line with expectations.

Underlying revenue and profit for the year to December 31 will meet market expectations and, following a "strong cash performance" in the second half in particular, the company's net debt levels will be "better than market expectations".

In February 2019, the Sussex-based company acquired Belgian clay brick manufacturer Floren & Cie for up to EUR9.9 million, expanding its foothold in Europe and enhancing its full-year earnings.

Michelmersh shares were 2.0% lower at 126.00 pence each in London on Wednesday morning.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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