Michelmersh Brick Holdings News Headlines. MBH Share News. Financial News Articles for Michelmersh Brick Holdings Plc Ord 20P updated throughout the day. – London South East


(Alliance News) – Brick manufacturer Michelmersh Brick Holdings PLC on Wednesday said its 2019 earnings, which were boosted by a recent acquisition, will be in line with expectations.

Underlying revenue and profit for the year to December 31 will meet market expectations and, following a “strong cash performance” in the second half in particular, the company’s net debt levels will be “better than market expectations”.

In February 2019, the Sussex-based company acquired Belgian clay brick manufacturer Floren & Cie for up to EUR9.9 million, expanding its foothold in Europe and enhancing its full-year earnings.

Michelmersh shares were 2.0% lower at 126.00 pence each in London on Wednesday morning.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.



Source link