REG - Michelmersh Brick - AGM Statement

Michelmersh Brick HoldingsAnnouncement

16/05/2024 07:00

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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                      Tel: +44 (0)1825 430 412

 Peter Sharp, 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

 Patrick Dolaghan
 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/) , www.bimbricks.com (http://www.bimbricks.com)
 andwww.sustainablebrick.com (http://www.sustainablebrick.com)

 

 

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