European expansion boosts IHT qualifying Michelmersh
Established in 1997, Michelmersh Brick Holdings (LON:MBH) comprises six of the UK’s premium brands of bricks, pavers and bespoke terra cotta products. More recently it also acquired its first businesses overseas, bringing a Belgium based manufacturer into the fold. This IHT qualifying company ticks many boxes for investors, including a high yield a low price-to-earnings-to-growth ratio.
Impressive interim results and positive outlook lift the share price
A maiden contribution from the new Belgian subsidiary at Michelmersh Brick Holdings (LON: MBH) helped lift revenues 17% to £27.2m and underlying pre-tax profit 18% to £5.2m for the six months ending 30 June 2019.
While some may be wary of the group’s exposure to the rather fragile UK new build market, as a lower volume producer of specialist products Michelmersh is less exposed than mainstream brick producers. Management also commented how brick stocks across the industry remain at historically low levels with…
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