27th Nov 2020 17:39
Michelmersh Brick Holdings PLC - Sussex-based brick manufacturer - Says trading performance resilient since June with current production capacity now back in line with pre-Covid levels. Turnover for July to October up 7% year-on-year. Underlying revenue and profit will beat market expectations for 2020. Opts to repay the GBP500,000 received under the job retention scheme. Notes "strong cash flow over recent months" and thus expecting to post positive net cash position at December end, even after repayment of JRS money. This compared to GBP6.5 million net debt June 30. Intends to pay final 2.25 pence per share dividend for 2020.
Current stock price: 111.00p; up 6.7% on Friday
Year-to-date change: down 7.5%
By Anna Farley; [email protected]
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