UK's Michelmersh Brick Holdings rises on upbeat FY results

Michelmersh Brick Holdings

26/03/2024 10:41

** Shares of Michelmersh Brick Holdings Plc  MBH.L  rise as
much as 6.4% to 108p
    ** Manufacturer of bricks posts ~9% rise in annual profit
before tax at 12.5 mln pounds ($15.8 mln)
    ** FY revenue up 13% at 77.3 mln pounds; co hikes FY
dividend per share to 4.50p from 4.25p year ago
    ** Investec analysts say MBH has produced a resilient set of
results against a difficult volume backdrop and the group's
decision to hold prices for 2024 would support its order intake
this year
    ** Stock up 5%, as of 1034 GMT, taking YTD gains to ~13%


($1 = 0.7908 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))