Telford brick maker reports rising sales amid Battersea delight
A Telford brick maker has reported rising sales and profits on the back of a "strong" period for the group, adding further positivity to the group on the back of a major contract win.
Michelmersh Brick Holdings, the owner of Blockleys Bricks at Trench, increased turnover by six per cent to £16.2 million in the six months to June 30.
The group saw pre-tax earnings static at £3 million, but it expects the business to become more profitable in the second half of the year.
The figures, which were described as "strong" by chairman Martin Warner, and provides more good news after the company landed a major contract to provide bricks for the redevelopment of Battersea Power Station in March.
The period also saw it take over another brick works, the Carlton site in Yorkshire, which it snapped up for £31 million.
"This has been another strong period for the group, which culminated in the acquisition of Carlton Main Brickworks," Mr Warner added.
"The integration of Carlton is on track and forward order commitments have increased, positioning the group for further growth in the second half.
"This is a transformational period for the business, which will further benefit our customers and shareholders in the future."
Michelmersh said it had improved its average selling price, and had a forward order commitment of more than 55 million bricks at the end of the period.
That is set to improve further in the wake of the Battersea deal, which will be delivered from the Telford and which will see the company produce 440,000 wire-cut bricks for the redevelopment of the historic building in London.
The value of the contract has not been revealed, but it is understood to be "significant". It has also seen Michelmersh invest in new equipment at the Telford site.
