Michelmersh turns loss to profit

UK brick maker Michelmersh recorded an operating profit of £1.5 million (€1.8 million) in the year to 31 December, 2011 after a £500,000 (€598,000) loss last time. Turnover was up 4% to £24.3 million as the company sold 70 million bricks at an improved average price of £345/1,000 compared to £330 in 2010. Chairman Eric Gadsden said: “The market is not only divided geographically, but also between ‘stock’ bricks required for appearance, (often driven by planning conditions), and ‘wire-cut’ bricks which are i
April 10, 2012 Read time: 2 mins

UK brick maker 4783 Michelmersh recorded an operating profit of £1.5 million (€1.8 million) in the year to 31 December, 2011 after a £500,000 (€598,000) loss last time.

Turnover was up 4% to £24.3 million as the company sold 70 million bricks at an improved average price of £345/1,000 compared to £330 in 2010.

Chairman Eric Gadsden said: “The market is not only divided geographically, but also between ‘stock’ bricks required for appearance, (often driven by planning conditions), and ‘wire-cut’ bricks which are in good supply and serve the economically weaker areas of the country where volume house builders are more active.

“We are aware of a number of potential opportunities to grow our business and we will consider all of these, and believe that we are uniquely able to progress and lead them.”

The company is also looking forward to further improvement in the market this year.
Chief executive Martin Warner said: “While 2012 has started reasonably well, we believe that this year will enjoy a stronger second half.

“We firmly believe that there will be further opportunities in our chosen field and we have the team and resources in place to make the right strategic decisions and to build a leading position in our market.”

For more information on companies in this article

Related Content

July 2, 2012

Results heading in right direction

Against a tough economic background, companies are reporting many improved results for 2011, with the emerging markets again offering solid growth. However, a number of major companies may well be looking to divest some interests to reduce debt while others, such as the UK’s Breedon Aggregates, are on the acquisition trail (see interview this issue). Lafarge CEO Bruno Lafont could sell at least €1 billion of assets this year, and Dr Bernd Scheifele, chairman at HeidelbergCement, said in November 2011 he was

May 23, 2012

Breedon ready for more acquisitions

Breedon Aggregates has made steady progress since its formation in 2010, and there is much more to come as chief executive Simon Vivian explains to Patrick Smith Forward-looking statements are made in good faith based on the information available at the time. This cautionary text usually appears at the end of companies’ results with good reason. But it does not mean that a company should not be forward looking. With its latest acquisition a few weeks ago and a 2011 preliminary pre-tax “turnaround” profit of

February 26, 2015

CRH results show 2014 year of growth

CRH, the Irish construction materials group, increased sales by 5% to €18.9 billion in 2014 and said that 2015 would be another year of progress. It pointed to an improvement in the global economic backdrop; a US recovery that gained momentum and a Europe that was normalising. The group said that 2014 was a year of growth for CRH, with different trends in the two halves. Europe in particular benefited from favourable weather conditions in the first half, and was the main driver of the 5% increase in like-fo

boombox1

Highlighted Content

boombox2