Last checked at 3 Feb 2014 07:00
3 February 2014
Michelmersh Brick Holdings Plc
("MBH" or the "Group")
Pre-close Trading Update
Notice of Results
Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer and landfill company, today announces the following trading update ahead of its final results for the year ended 31 December 2013, scheduled for release on Wednesday 26 March 2014.
The Board is pleased to announce that Michelmersh is expecting to report a profit from continuing activities for the year ended 31 December 2013. The positive financial performance of the Group reflects stronger than anticipated turnover in the final quarter of 2013, ahead of the Board's expectations at the time of the interim statement in September 2013. The result before taxation will include the profit on sale of the factory land at Telford, exceptional non-recurring costs relating to closure of the Dunton plant in the year and associated Group restructuring costs.
Furthermore, following the successful fundraising of £9.6 million arising out of the placing of 22.5 million ordinary shares in November 2013, the Group will also report significantly reduced net borrowings as at the balance sheet date.
The Board will be running one-to-one investor briefings during the week of its final results and is available for telephone or face to face interviews with the media on request.
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Further information on the Company can be found at www.mbhplc.co.uk