MBH.L

Michelmersh Brick Holdings Plc
Michelmersh Brick - AGM Statement
16th May 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 6125O
Michelmersh Brick Holdings PLC
16 May 2024
 

16 May 2024

Michelmersh Brick Holdings Plc

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

AGM Statement

In line with market expectations

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 Designate, will reference the following statement:

"Since reporting our full-year 2023 results in March, we have continued to experience positive momentum in our order intake, reflecting the benefits of our product portfolio's broad reach and the strong customer loyalty and distributor relationships we have across our end markets.

"We remain mindful of the higher interest rate environment and its impact on demand across the wider construction industry, and as such continue to focus on appropriate portfolio pricing to maintain diversity in our forward order book, which is drawn from social and specification housing, RMI, new build and commercial sectors.

"While delivery schedules have been impacted in the first quarter, as a result of more challenging seasonal conditions, production volumes continue in line with our expectations. With order intake momentum at levels not seen since the end of 2022 driving improved volume and quality of the forward order book, we anticipate increased despatch volumes for the remainder of the financial year, which when combined with the strength of our balance sheet, positions the Company well for delivering full-year expectations."

Pending approval by shareholders at the AGM, the final dividend in respect of the year ended 31 December 2023 of 3.00 pence per ordinary share will be paid on 10 July 2024 to members on the register on 7 June 2024. The ex-dividend date will be 6 June 2024.

For further information, please contact:

Michelmersh Brick Holdings Plc

Peter Sharp, Chief Executive Officer

Ryan Mahoney, Chief Financial Officer

Tel: +44 (0)1825 430 412

Canaccord Genuity Limited (NOMAD and Joint Broker)

Max Hartley

Bobbie Hilliam

Harry Pardoe

Tel: +44 (0)20 7523 8000

 

Berenberg (Joint Broker)

Richard Bootle

Detlir Elizi

Patrick Dolaghan

Tel: +44 (0)20 3207 7800

Yellow Jersey PR

Charles Goodwin

Annabelle Wills

Tel: +44 (0)7747 788 221

Tel: +44 (0)7775 194 357

 

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, www.bimbricks.com andwww.sustainablebrick.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
AGMAAMFTMTMBBPI]]>
TwitterFacebookLinkedIn