Sales and profits grow for bricks group
Brick manufacturing group Michelmersh Brick has reported growth in sales and profits for 2018.
Michelmersh, which includes Blockleys Bricks in Trench, Telford, saw turnover rise by 22 per cent to £46.3 million.
Pre-tax profits were up 42 per cent to £7.4m and the total dividend increased by 49 per cent to 3.2 pence per share for the year.
It said that there had been full operational integration of the freshly-acquired Carlton plant and a successful restructure of operations at the Michelmersh plant.
Michelmersh reported a strong, balanced forward order book into the first quarter of 2019, which was 10.5 per cent ahead of the firs half of 2018.
Since the end of last year the group also completed the acquisition of Belgian brick manufacturer Floren to give access to European markets
Martin Warner, chairman of Michelmersh Brick Holdings, said: "The acquisitions of Carlton and Floren demonstrate that the Group has ambition to expand its geographic footprint and product range. However, this growth is set within strict parameters to preserve the character and position of Michelmersh in its sector.
"The board is equally committed to nurturing its existing business and investing to improve efficiency, as well as acting as a good corporate citizen for the benefit of all its stakeholders."
