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Michelmersh Bricks see market signs of improvement

Specialist brick manufacturer Michelmersh has announced pre-tax profits of £105,000 for the first half of 2011 after posting a loss of more than £600,000 for the same period a year ago.

Michelmersh Brick Holdings announced turnover of £12.2 million, up from £10.7m in 2010 and a gross profit margin increase of 5 per cent to 32 per cent.

Michelmersh Brick Holdings chairman Eric Gadsden said: “The business is now well positioned and resilient, benefiting not only from past investment, but also the measures taken over the last two years to direct output to a reduced market.

“Our distinct product offering, geography and strength in the RMI market mean that we are well placed to maintain our strong independent position in the brick sector.”

Among the operational highlights listed by the company include completion of the group’s restructuring process, volume of bricks sold up by 13 per cent on 2010 to £36m and the acquisition of 25 per cent shares in Jeffery Building Products.

The company, which also specialises in landfill, also announced landfill contributed turnover of £448,000 up from less than £200,000 at the same stage last year.

 

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