31st Mar 2008 07:01
Michelmersh Brick Holdings PLC31 March 2008 Embargoed for 07:0031 March 2008 Michelmersh Brick Holdings PLC Trading Statement and Notice of results Michelmersh Brick Holdings plc (AIM: MBH) (the "Company"), the specialist brick,land development and landfill company, is completing preparation of its 2007accounts under IFRS for the first time and announces that it will report itspreliminary results for the 12 months to 31 December 2007 on 22 April 2008. The Company's stated accounting policies require that its assets are subject toa full independent valuation every two years. The revaluation as at 31 December2007 will show a significantly higher overall value in land assets than had beenpreviously expected. This will, however, also result in a correspondingly higherdepreciation and impairment charge against the trading businesses. For further information:Martin Warner, Michelmersh Brick Holdings plc: 01442 870 227Jeremy Carey, Tavistock Communications: 020 7920 3150Russell Cook, Charles Stanley Securities 020 7149 6000 Notes to editors Michelmersh is a holding company with five subsidiary companies, Blockleys,Michelmersh Brick & Tile, Charnwood and Duntons, which manufacture clay bricksand paviors, and New Acres, which operates landfill sites. In addition, thecompany has significant land holdings. Michelmersh has grown through acquisition and organic growth into a profitable,cash generative and asset rich business. Since 1997, it has invested in excessof £15 million in the modernisation of its plant and production processes andnow has the capacity to produce over 85 million bricks per annum. Michelmersh floated on AIM on May 2004 and is currently capitalised at about £32million. Further information on the Company can be found at http://www.michelmersh.com/ This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Michelmersh Brick Holdings