Michelmersh Brick Holdings PLC AGM Statement (6473N)

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

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