Last checked at 31 Jan 2013 07:00
31 January 2013
Michelmersh Brick Holdings Plc
("MBH" or the "Company")
Trading Update and Notice of Full Year Results
Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer and landfill company, is pleased to report that overall trading, for the twelve months ended 31 December 2012, was marginally ahead of market expectations.
In September 2012, the Company reported that it expected only to break even, however as a consequence of a better than expected performance in the final quarter, the Board now expects to announce a modest profit for the year. Trading activity in the second half of 2012 was very patchy; in October record levels of turnover and profitability were achieved, whilst November and December were less busy.
Order intake in the latter part of 2012 was encouraging and January 2013 started well, but recent weather conditions have threatened the promise of a good start to the year.
MBH is also making positive progress with its development activities. It has received a satisfactory final determination of the option price of its consented land in Telford and is in discussions with Persimmon as to how to take this matter forward. The 15 acre former factory site at Telford is proceeding through the planning process and there is strong interest, from a number of residential developers, in acquiring the site.
Notice of Results
MBH intends to announce its full year results, for the twelve months ended 31 December 2012, on Monday 25 March 2013, when it will provide a further update on trading.
For further information: | |
Martin Warner, Chief Executive, Michelmersh Brick Holdings: | 01442 870 227 |
Jeremy Carey, Tavistock Communications: | 020 7920 3150 |
Tom Griffiths, Westhouse Securities: | 020 7601 6100 |
Notes to Editors:
Michelmersh Brick Holdings PLC is the holding company for Michelmersh Brick UK Ltd, a business with seven leading market brands: Blockleys, Charnwood, Dunton, Freshfield Lane, Hathern Terra Cotta, Michelmersh and Taperell Taylor. These divisions operate within a fully integrated business combining the manufacture of clay bricks, tiles 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 by Martin Warner, Chief Executive and Eric Gadsden, Chairman, the Company has grown through acquisition and organic growth into a profitable, cash generative and asset rich business, producing approximately 70 million clay bricks, tiles and pavers per annum. MBH currently owns most of the UK's premium manufacturing brands and is a leading specification brick and clay paving manufacturer.
Recently MBH's products have been successfully used in projects such as the extension of the Lutyens-designed, Grade II Listed, Henrietta Barnett School in Hampstead Garden Suburb, the award-winning Holiday Inn Express in Manchester and the contemporary Falmer Academy building in Brighton. We are also suppliers to high value housing developers such as Berkeley and St James Homes, delivering to key city regeneration projects such as Battersea Reach.
Further information on the Company can be found at www.mbhplc.co.uk