REG - Michelmersh Brick - AGM Statement

Michelmersh Brick HoldingsAnnouncement

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RNS Number : 1688F  Michelmersh Brick Holdings PLC  21 May 2026

21 May 2026

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, Tony Morris, Chair, will reference the following
statement:

"Since reporting our full-year 2025 results at the end of March, we are
pleased that our order intake has continued to run ahead of our manufacturing
capacity for the period to date. This momentum is maintaining our balanced
forward order book, but as with the prior year, our commercial challenge
remains predicting the timing of brick and pre-fabricated product despatches
due to low consumer confidence and the associated uncertainty in construction
project commencement dates."

"UK industry brick despatches for the first quarter of the year were broadly
10% down on the same period in 2025 and the inconsistency in the construction
markets means that we continue to closely monitor our end market demand
dynamics and adapt and flex production capacity accordingly, as we have in the
past."

"As we continue to target the appropriate balance between production volumes
and customer demand expectations we are constantly reviewing the cadence of
our manufacturing operations. We began the year with a planned pause of brick
making operations at our Romsey site in Hampshire, which recommenced
manufacturing activities at the start of May with no interruption to our
customers given our well-managed inventory position. In addition, we continue
to be pleased with the quality of the pre-fabricated operation at Romsey,
which we established last summer. As a result, we took the decision to further
expand capacity on the site to add all lines of pre-fabricated production. The
decision to expand operations at Romsey has unfortunately facilitated the full
wind-down of operations at our Charnwood site with operations expected to
conclude by the end of May. The future for the freehold of Charnwood is now
under strategic review. We are grateful for the service of the Charnwood team
over many years and they will leave Michelmersh with our sincere thanks for
all their efforts on behalf of the Group."

"There are well documented challenges in our sector, due principally to a lack
of confidence for consumers and their affordability concerns, which is
impacting all areas of construction activity and the predictability of a
sustained market recovery. Notwithstanding this volatility, we remain
confident that the medium-term market drivers for our business are
encouraging. We believe we have an attractive and competitive portfolio of
products which is in demand across our end markets and it is these indicative
fundamentals that underpin our view that we remain resilient as a business,
supported by the strength of our balance sheet.

"Despite the prevailing trading conditions, while we currently expect the
Company to deliver performance in line with full-year expectations, we are
watchful of the continuing political instability within the UK and overseas
and any resulting impact on inflation and the interest rate environment
combining to further undermine consumer confidence"

Pending approval by shareholders at the AGM, the final dividend in respect of
the year ended 31 December 2025 of 3.00 pence per ordinary share will be
paid on 8 July 2026 to members on the register on 5 June 2026. The
ex-dividend date will be 4 June 2026.

For further information, please contact:

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

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

 Max Hartley

 Bobbie Hilliam

 Harry Pardoe
 Alma Strategic Communications                 Tel: +44 (0) 20 3405 0205

 Andrew Jaques                                 michelmersh@almastrategic.com (mailto:michelmersh@almastrategic.com)

 Sam Modlin

 Kinvara Verdon

 Louisa El-Ahwal

 

 

About Michelmersh Brick Holdings PLC:

Michelmersh Brick Holdings PLC is a business with six market leading brands:
Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh and Floren.be.
These divisions operate within a fully integrated business, combining the
production of premium, precision-made bricks, pavers, special shaped bricks
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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