Michelmersh Brick Holdings PLC AGM Statement (6473N)
May 20 2015 - 1:00AM
UK Regulatory
TIDMMBH
RNS Number : 6473N
Michelmersh Brick Holdings PLC
20 May 2015
20 May 2015
Michelmersh Brick Holdings PLC
("MBH", or the "Group")
AGM STATEMENT
Michelmersh Brick Holdings PLC (AIM:MBH.L), the specialist
brick, land development and landfill company, announces that, at
its Annual General Meeting (AGM), which is to be held at 10.30 am
today, Mr. Eric Gadsden, Chairman, will make the following
statement:
"I am pleased to report that the Company has continued to
perform strongly in the first four months of 2015. Demand has been
strong and deliveries are up by 10% on the same period in 2014,
partly as a result of the increased capacity at Freshfield Lane. We
have also seen continued price improvement as the brick market
adjusts to current activity levels in the construction sector. We
are actively assessing opportunities to further invest in our
manufacturing plants to reduce costs and secure longevity of
operations.
"The Board expects continued strong trading and high demand for
its premium product and consequently anticipates that the Group
will meet current market expectations for the year to 31 December
2015.
"The Board continues to address opportunities with ancillary
land assets at the Charnwood quarry and the former Dunton
brickworks site and expects to report positive progress through the
year.
"The Group remains uniquely placed in an industry with high
barriers to entry. We remain well-financed and positioned to
benefit from higher demand for bricks in the UK. Our market
position, asset base and enhanced shareholder register gives the
Board optimism about our future prospects."
Enquiries:
Michelmersh Brick Holdings
Martin Warner, CEO
Stephen Morgan, Finance Director 01825 430 413
Cenkos Securities plc
Bobbie Hilliam (NOMAD)
Harry Pardoe
Oliver Baxendale (Sales) 020 7397 8900
Yellow Jersey PR 07799 003 220
Kelsey Traynor 07768 537 739
Dominic Barretto
About Michelmersh Brick Holdings PLC:
Michelmersh Brick Holdings PLC is a business with five leading
market brands: Blockleys, Charnwood, Freshfield Lane, Michelmersh
and Hathern Terra Cotta. 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 the Company has grown through acquisition
and organic growth into a profitable and asset rich business,
producing approximately 70 million clay bricks, tiles and pavers
per annum. MBH PLC currently owns most of the UK's premium
manufacturing brands and is a leading specification brick and clay
paving manufacturer.
Recently Michelmersh's products have been successfully used in
prestigious projects such as the Nottingham Railway Station
refurbishment, Manchester's Salford Quays regeneration project and
the Lend Lease, Elephant and Castle redevelopment in London. 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.
Please visit the Group's website at: www.mbhplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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