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Baggeridge builds profit
15:29 09 Jun 2004
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Baggeridge Brick, the fourth-largest UK brick maker with a 9%
market share, has announced an increase in profit.
Latest interim figures (six months to 31 March 2004) show turnover ahead at £25m (£22m) while pre-tax profit almost doubled to £3.2m (£1.8m).
Chairman Alexander Ward 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 - we are finding demand in the South East sluggish, which particularly affects our Rudgwick factory in West Sussex."
Baggeridge's largest factory, at Waresley, near Kidderminster, was able to run at higher volumes compared with the first half of last year when it was in the throes of modification work.
Latest interim figures (six months to 31 March 2004) show turnover ahead at £25m (£22m) while pre-tax profit almost doubled to £3.2m (£1.8m).
Chairman Alexander Ward 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 - we are finding demand in the South East sluggish, which particularly affects our Rudgwick factory in West Sussex."
Baggeridge's largest factory, at Waresley, near Kidderminster, was able to run at higher volumes compared with the first half of last year when it was in the throes of modification work.
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