Michelmersh Brick Holdings Plc (LON:MBH) chairman, Martin Warner, says the brickmaker is expecting ‘significant growth’ this financial year as its Carlton Main Brickworks acquisition began its first full-year of contribution to revenues.
At the company's annual general meeting later today, Warner will say that the company had been largely unaffected by the severe weather conditions caused by the ‘Beast from the East’ earlier in the year, with trading performance for the full year expected to be in line with market expectations.
READ: Michelmersh Brick boosted by acquisition and healthy brick market
The group’s Carlton Main Brickworks, which it acquired in June last year, was proving to be ‘an excellent acquisition’ Warner said, adding that it was performing as anticipated and that he was “looking forward to its full year contribution to the Group's results”.
Michelmersh saw the first effects of the Carlton purchase in its annual results for 2017, when revenues jumped 26% to £37.9mln.
In early morning trading Thursday, Michelmersh shares were up 2.1% at 95.5p.