25 November 2021
Michelmersh Brick Holdings Plc
(“MBH”, the “Company”, or the “Group”)
Pre-Close Trading Update and Notice of Results
Continued Strong Performance Surpasses Market Expectations
Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer, today announces a trading update ahead of its final results for the year ending 31 December 2021. The Group intends to report its full 2021 results on 30 March 2022.
The trading performance of the Group has continued to be positive in the final quarter of the financial year. We continue to see strong demand in our end markets from new housing, key repairs, maintenance and improvement and commercial regeneration projects.
Despite the ongoing inflation impacts on our supply chain, the Group is managing its costs in line with management expectations. Specifically on energy prices, the Group's hedging policy means the Group is well placed to manage the impact of gas price volatility over the medium term with our requirements significantly hedged through to 2023.
As a result of strong trading, the Board is pleased to announce that it now expects revenue and profit for the Group to be ahead of market expectations for the 12 months ending 31 December 2021. Further, the Group has a strong and well-balanced forward order book giving management confidence as we move into 2022.