REG - Michelmersh Brick - Trading Update and Notice of Results

Michelmersh Brick HoldingsAnnouncement

23/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231123:nRSW3904Ua&default-theme=true

RNS Number : 3904U  Michelmersh Brick Holdings PLC  23 November 2023

 

23 November 2023

 

Michelmersh Brick Holdings Plc

("MBH", the "Company", or the "Group")

 
                    Trading Update and Notice of
Results

Resilient trading and in line with market expectations

Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer,
today announces a trading update in relation to its financial results for the
year ending 31 December 2023.

Following the half year results announcement on 5 September 2023, the trading
performance of the Group has been resilient in the final quarter of the
financial year as we have continued to operate at full manufacturing capacity
to deliver our diverse forward order book.

The contraction in the construction industry has continued into the second
half with the challenging fundamentals of the broader economy weighing on
consumer sentiment and demand in our end markets. We continue to focus on
controlling our input costs and the efficiency of our facilities within this
environment. The diversity of our customer base and broad product channels
remains a core strength of the Group and, alongside the benefits of our
quality opening order book at the start of this second half, these have been
important factors in supporting the resilience of our trading performance to
date.

The Group remains resolutely focused on delivering an excellent product and
service to our customers and with our resilient trading the Board expects
revenue, profit and cash for the Group to be in-line with market expectations
for the 12 months ending 31 December 2023.

The Group intends to announce its full 2023 results on 26 March 2024.

 Michelmersh Brick Holdings Plc                      Tel: +44 (0)1825 430 412

 Peter Sharp, Joint Chief Executive Officer

 Ryan Mahoney, Chief Financial Officer
 Canaccord Genuity Limited (NOMAD and Joint Broker)  Tel: +44 (0)20 7523 8000

 Max Hartley

 Bobbie Hilliam
 Berenberg (Joint Broker)                            Tel: +44 (0) 203 207 7800

 Richard Bootle

 Detlir Elizi
 Yellow Jersey PR

 Charles Goodwin                                     Tel: +44 (0)7747 788 221

 Annabelle Wills                                     Tel: +44 (0)7775 194 357

 

About Michelmersh Brick Holdings PLC:

 

Michelmersh Brick Holdings PLC is a business with seven market leading brands:
Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh, Floren.be and
Hathern Terra Cotta. These divisions operate within a fully integrated
business, combining the production of premium, precision-made bricks, pavers,
special shaped bricks, bespoke Terra Cotta products and prefabricated brick
components. 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, the Company has grown through acquisition and organic
growth into a profitable and asset rich business, producing over 122 million
clay bricks and pavers per annum. Michelmersh currently owns most of the UK's
premium manufacturing brick brands and is a leading specification brick and
clay paving manufacturer.

Michelmersh strives to be a well invested, long term, sustainable,
environmentally responsible business. Opportunity, training and security for
all employees, whilst meeting the needs of stakeholders are at the forefront
of everything we do. We aim to lead the way in producing some of Britain's
premium clay products and enhancing our environment by adding value to the
architectural landscape for generations to come.

We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".

Please visit the Group's websites at: www.mbhplc.co.uk
(http://www.mbhplc.co.uk) , www.bimbricks.com (http://www.bimbricks.com) and
www.sustainablebrick.com (http://www.sustainablebrick.com/)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTFLFEALELFFIV