|Master Investor Magazine
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The price of shares in AIM-listed building material manufacturer Michelmersh Brick Holdings (LON:MBH) increased by 10.93% to 95.40p (as of 12:45 GMT) after it reported a 15% improvement in revenues for 2019. Gross margins for the 12 months were also up by 200 basis points.
Chairman Martin Warner commented: “Following a record year and strong first quarter, the Group is in a sound financial position with significant cash reserves and assets. As announced last week, we have taken the necessary immediate steps to protect the business for the benefit of all stakeholders in the midst of the current crisis. These measures will be kept under constant review.
“Michelmersh has always emerged stronger through difficulties and I see no reason why this should not be the case now with our committed and able workforce, positive financial position and unique position in the market place“.