Baggeridge Brick profits double to £3.2m

Baggeridge Brick, the fourth-largest UK brick maker with a 9% market share, has announced its latest interim figures this morning (Wednesday).

Turnover in the six months to 31 March 2004 increased by 11% to £25m, while pre-tax profit almost doubled to £3.2m.

Alexander Ward, chairman, said: "Both brick sales and production volumes were above those of last year, as were overall prices.

"National brick stocks have continued to decline. At the end of March 2004 they were 17% lower than a year before.

"The recovery in our margins has been helped by the continuing trend of national sales outstripping production, although it is apparent that this is not the same for all parts of the country - in common with our competitors, we are finding demand in the south east sluggish, which, in particular, affects our Rudgwick factory."

Baggeridge's largest factory, at Waresley, near Kidderminster, benefited from being able to run at higher volumes in comparison with the first half of last year when it was in the throes of modification work to improve its efficiency.