22 November 2024
Michelmersh Brick Holdings Plc
("MBH", the "Company", or the "Group")
Pre-Close Trading Update and Notice of Results
Resilient performance, trading in line with market expectations
Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer, today announces a pre-close trading update ahead of its final results for the year ending 31 December 2024.
Following the half year results announcement on 3 September 2024, the trading performance of the Group has continued to be resilient into the final quarter of the financial year.
Our order intake continues to run ahead of manufacturing capacity as we have focused on growing a well-balanced forward order book with appropriate pricing to support demand. While the inflection point in activity levels within the construction sector remains uncertain, we are working closely with our customers on the expected timing of despatches. Group trading is also benefiting from the quality of the order book built up during the year across our broad and diverse customer base.
We remain resolute in our focus on delivering excellent products and services. Given the resilience of trading during the second half of the year, the Board expects revenue, profit and cash for the Group to be in line with market expectations for the 12 months ending 31 December 2024.
The Group intends to report its full 2024 results on 25 March 2025.
| Michelmersh Brick Holdings Plc Peter Sharp, Chief Executive Officer Ryan Mahoney, Chief Financial Officer | Tel: +44 (0)1825 430 412
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| Canaccord Genuity Limited (NOMAD and Joint Broker) Max Hartley Bobbie Hilliam Harry Pardoe | Tel: +44 (0)20 7523 8000
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| Berenberg (Joint Broker) Richard Bootle Detlir Elizi Patrick Dolaghan | Tel: +44 (0) 203 207 7800 |
| Yellow Jersey PR Charles Goodwin Annabelle Wills | Tel: +44 (0)7747 788 221 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 120 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, www.bimbricks.com and www.sustainablebrick.com
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