Michelmersh Brick Holdings PLC Trading Statement (5199N)
February 01 2016 - 2:00AM
UK Regulatory
TIDMMBH
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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