REG - Michelmersh Brick - AGM Statement and Trading Update

Michelmersh Brick HoldingsAnnouncement

15/05/2025 07:00

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RNS Number : 7099I  Michelmersh Brick Holdings PLC  15 May 2025

15 May 2025

Michelmersh Brick Holdings Plc

("MBH", the "Company" or the "Group")

AGM Statement and Trading Update

Michelmersh Brick Holdings PLC (AIM: MBH), the specialist brick manufacturer,
announces that at its Annual General Meeting (AGM) which is to be held
at 10.30 am today, Tony Morris, Chair, will reference the following
statement:

"Since reporting our full-year 2024 results in March, we have continued to
experience supportive order intake to maintain a well-balanced forward order
book, underpinned by robust demand from across our end markets.

"We have been pleased with the response to our required mid-single digit price
increases from the beginning of April to offset cost increases from the start
of the year, which we believe reflects the strength of our customer
relationships. However, we continue to operate in a landscape where brick
pricing remains highly competitive in some of our end markets. As we closely
monitor the demand dynamics across the wider construction industry, we remain
focussed on appropriate portfolio pricing to maintain diversity in our forward
order book.

"We began the year with planned closures on three of our sites for capital
improvement work and are pleased that Floren, Michelmersh and Carlton have
successfully recommenced manufacturing activities largely in line with our
timing expectations within the first quarter. With our significant programme
of improvement works complete we are focused on continuing to diversify across
RMI, housing, commercial, social and specification projects, and the breadth
of our offering continues to underpin our resilient outlook. Our full year
expectations are unchanged, and we anticipate stable despatch volumes for the
remainder of the financial year but remain watchful of the pricing environment
and customer demand dynamics particularly in our important RMI markets. The
medium-term demand fundamentals across our UK and Benelux markets remain
highly supportive and we are well positioned for market recovery once we hit
that inflection point.

"We are also delighted to announce that following a thorough recruitment
process, we have recruited our new CFO, Rachel Warren. Rachel is joining us
from Wincanton, the former FTSE listed group who supply business critical
services including storage, handling and distribution, where she has been
Group Finance Director since January 2022. Prior to that, she spent the
majority of her career within the IAG Group of companies, including her role
as Director of Business Control for Aer Lingus and a suite of Financial
Controller roles within British Airways. Rachel is both a qualified accountant
and a fellow of the Association of Chartered and Certified Accountants.

"Rachel is expected to join during the second half of the year, and her
substantial operational and financial expertise will help the business target
continued strategic progress and we look forward to welcoming her to the
Board."

Pending approval by shareholders at the AGM, the final dividend in respect of
the year ended 31 December 2024 of 3.00 pence per ordinary share will be
paid on 9 July 2025 to members on the register on 6 June 2025. The
ex-dividend date will be 5 June 2025.

For further information, please contact:

 Michelmersh Brick Holdings Plc                Tel: +44 (0)1825 430 412

 Ryan Mahoney, Chief Financial Officer
 Canaccord Genuity Limited (NOMAD and Broker)  Tel: +44 (0)20 7523 8000

 Max Hartley

 Bobbie Hilliam

 Harry Pardoe
 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 120 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/) , www.bimbricks.com (http://www.bimbricks.com)
 andwww.sustainablebrick.com (http://www.sustainablebrick.com)

 

 

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