Michelmersh Brick Holdings PLC Trading Statement (5199N)

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RNS Number : 5199N

Michelmersh Brick Holdings PLC

01 February 2016

1 February 2016

Michelmersh Brick Holdings Plc

("Michelmersh" or the "Group")

Pre-close Trading Update

Notice of Results

Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer and landfill company, today announces a trading update ahead of its final results for the year ended 31 December 2015, scheduled for release on Monday 21 March 2016.

The Board is pleased to announce that Michelmersh is expecting to report a profit for the year ended 31 December 2015 that is slightly ahead of market expectations. The positive financial performance of the Group reflects stronger selling prices than expected towards the end of the year and consequent improvements in margin. The Group also benefitted from a strong production performance placing Michelmersh in a position from which it can quickly satisfy market demand.

Improvement in profits and strong working capital management has also resulted in a significant improvement in the net cash position over that which was previously expected. Net cash at year end was approximately GBP2.9million.

The Group's forward order book continues to be robust and well balanced at this point.

 
 
  Enquiries:Michelmersh Brick Holdings 
   Frank Hanna, Joint CEO 
   Stephen Morgan, Finance 
   Director                    01825 430413 
  Cenkos Securities plc 
   Bobbie Hilliam (NOMAD) 
   Harry Pardoe                020 7397 
   Alex Aylen (Sales)           8900 
  Yellow Jersey PR 
                               07768 537 
   Dominic Barretto             739 
                                07747 788 
   Charles Goodwin               221 
 
 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 01, 2016 02:00 ET (07:00 GMT)