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1 Feb 2016 07:00
1 February 2016
Michelmersh Brick Holdings Plc
("Michelmersh" 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 a trading update ahead of its final results for the year ended 31 December 2015, scheduled for release on Monday 21 March 2016.
The Board is pleased to announce that Michelmersh is expecting to report a profit for the year ended 31 December 2015 that is slightly ahead of market expectations. The positive financial performance of the Group reflects stronger selling prices than expected towards the end of the year and consequent improvements in margin. The Group also benefitted from a strong production performance placing Michelmersh in a position from which it can quickly satisfy market demand.
Improvement in profits and strong working capital management has also resulted in a significant improvement in the net cash position over that which was previously expected. Net cash at year end was approximately £2.9million.
The Group's forward order book continues to be robust and well balanced at this point.
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