Michelmersh Brick profits fall to just £13k

Michelmersh Brick Holdings has announced its maiden interim results after floating on AIM – the junior section of the Stock Exchange – in May.

The brick manufacturer held turnover steady at £8.7m but pre-tax profit fell perilously close to zero. After a pre-tax profit of £680,000 in the same period last year, Michelmersh could only rustle up a figure of £13,000 this time round.

Eric Gadsden, chairman, said that this year has suffered disruption as a result of the various modernisation works being carried out at all four of the group’s production plants. In particular, Michelmersh Brick experienced unforeseen delays in the installation of new brick and tile-making equipment and completion of the natural gas pipeline.

Looking forward, Michelmersh announced that Charnwood Forest Brick has secured the contract to supply facing bricks for the Grade 1 listed St Pancras Station.

In addition to 70,000 standard bricks, more than 600,000 non-standard facing bricks have been specified for the London terminal of the Channel Tunnel Rail Link. These have been specially developed to ensure a match to the existing facades of the Gilbert Scott designed building. The project is due for completion in 2007.