20th May 2015 07:48
LONDON (Alliance News) - Michelmersh Brick Holdings PLC on Wednesday said it has performed well in the first four months of the year, with good demand pushing up deliveries and an improvement in pricing in the brick market.
The brick manufacturing, land development and landfill company's chairman, Eric Gadsden, in a statement ahead of its annual general meeting, said trading in the first four months of 2015 was "strong".
Gadsden said demand has been robust and deliveries have increased 10% year-on-year in the period, partly due to increased capacity as its Freshfield Lane site. The group has also seen an improvement in pricing in the brick market due to the recovery in the UK construction sector.
The chairman added Michelmersh is also working on plans to further invest in its operations in order to cut costs and improve efficiency in its manufacturing.
"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 December 31, 2015," Gadsden said.
Shares in Michelmersh were down 4.1% to 79.40 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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