Search Share Prices
Michelmersh Brick expects significant revenue boost after Carlton acquisition
AIM-listed brick maker Michelmersh (MBH) expects revenue and profit to meet market expectations for the 2017 trading year after finalising the integration of recently acquired Carlton Brickworks.
Michelmersh picked up Carlton in June for £31.2m, increasing its capacity to more than 100m bricks as a result, noting the business was "bedding in as expected", with operational synergies beginning to come through.
"Demand from the house building and RMI markets continues to be robust and group's well-balanced forward order book for 2018 reflects this trend," said the group.
Michelmersh said it expected to see a significant boost to second half earnings as a result of the Carlton acquisition when it releases its full-year trading update for the year ended 31 December on 19 March.
As of 1000 GMT, shares had gained 2.82% to 91.00p.