Michelmersh Brick - AGM Statement
18/05/2023 07:00
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RNS Number : 7506Z Michelmersh Brick Holdings PLC 18 May 2023
18 May 2023
Michelmersh Brick Holdings Plc
("MBH", the "Company" or the "Group")
AGM Statement
Michelmersh Brick Holdings PLC (AIM: MBH), the specialist brick manufacturer,
announces that at its Annual General Meeting (AGM), which is to be held
at 11.00 am today, Martin Warner, Chairman, will make the following
statement:
"Since reporting our full-year 2022 results in March, we have continued to add
to our quality forward order book with resilient order intake for our broad
product portfolio from our loyal customer base and distributor relationships
across our end markets, whilst production volumes have continued in line with
expectations. We are also very pleased with the start to the year at FabSpeed,
our leading brick fabricator and manufacturer of off-site pre-built brick
products, in our first full year of ownership. FabSpeed provides a product
range which will deepen our distribution relationships even further by meeting
more of the needs for our end markets, and the business continues to perform
in line with our expectations.
"Wider demand across the construction industry has been impacted by the higher
interest rate environment and we are focused on appropriate portfolio pricing
to maintain an end market spread in our forward order book drawn from social
and specification housing, RMI, new build and commercial sectors.
"The Board remains confident that the quality fundamentals in our business
continue to provide resilience to our outlook. The Group has made a robust
start to 2023, and combined with our balanced forward order book, we remain on
track to meet full-year expectations."
Pending approval by shareholders at the AGM, the final dividend in respect of
the year ended 31 December 2022 of 2.95 pence per ordinary share will be
paid on 12 July 2023 to members on the register on 9 June 2023, the
ex-dividend date will be 8 June 2023.
For further information, please contact:
Michelmersh Brick Holdings Plc Tel: +44 (0)1825 430 412
Frank Hanna, Joint Chief Executive Officer
Ryan Mahoney, Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Joint Broker) Tel: +44 (0)20 7523 8000
Max Hartley
Bobbie Hilliam
Harry Pardoe
Berenberg (Joint Broker) Tel: +44 (0)20 3207 7800
Richard Bootle
Detlir Elizi
Yasmina Benchekroun
Yellow Jersey PR Tel: +44 (0)7747 788 221
Charles Goodwin Tel: +44 (0)7775 194 357
Annabelle Wills
About Michelmersh Brick Holdings PLC:
Michelmersh Brick Holdings PLC is a business with seven market leading brands:
Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh, Floren.be and
Hathern Terra Cotta. These divisions operate within a fully integrated
business, combining the production of premium, precision-made bricks, pavers,
special shaped bricks, bespoke Terra Cotta products and prefabricated brick
components. The Group also includes a landfill operator, New Acres Limited,
and seeks to develop future landfill and development opportunities on
ancillary land assets.
Established in 1997, the Company has grown through acquisition and organic
growth into a profitable and asset rich business, producing over 122 million
clay bricks and pavers per annum. Michelmersh currently owns most of the UK's
premium manufacturing brick brands and is a leading specification brick and
clay paving manufacturer.
Michelmersh strives to be a well invested, long term, sustainable,
environmentally responsible business. Opportunity, training and security for
all employees, whilst meeting the needs of stakeholders are at the forefront
of everything we do. We aim to lead the way in producing some of Britain's
premium clay products and enhancing our environment by adding value to the
architectural landscape for generations to come.
We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".
Please visit the Group's websites at: www.mbhplc.co.uk
(http://www.mbhplc.co.uk/) and www.bimbricks.com (http://www.bimbricks.com)
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