Bricks and Kettles
There were excellent results from AIM’s only maker of bricks and encouraging progress from a maker of superlative kettle controls and water filter products, although the market liked these less than the bricks! Read our thoughts on results from these very different companies here. (Free to read)
Michelmersh: the brilliance of bricks Michelmersh Brick Holdings (AIM: MBH), the specialist brick manufacturer, was another business to announce fabulous results for the year ending 31 December 2021 - the UK construction materials sector has had a pretty good run. Revenue increased 14.4% to £59.5m, which was all the more impressive as the period included the impact of the 4-week manufacturing shutdown due to Covid-19. Revenue was also up 11.2% on the more comparable 2019 financial year. Reported operating profit (before any adjustments) rose 30% to £9.9m, representing a very attractive operating margin of 16.6%, at least for a brick…