Michelmersh says year-end result will beat expectation

Brick firm Michelmersh has said revenue and profit for the year will be ahead of expectations when it publishes its 2021 results next March.

Earlier this year, joint chief executive Frank Hanna told 好色先生TV the firm鈥檚 six plants were working flat out to meet demand that was last year disrupted by the covid-19 pandemic and which saw an entire month鈥檚 worth of production wiped out because of the first lockdown last spring.

Hobhouse Court, London

Michelmersh worked on the Hobhouse Court mixed-use scheme next door to the National Gallery鈥檚 Sainsbury Wing off Trafalgar Square. Work was completed by Osborne at the end of 2019

In a trading update yesterday, the firm said demand from the housing, RMI and regeneration markets meant turnover and profit would be up on forecasts.

Analysts had been expecting the firm鈥檚 2021 results to see revenue of around 拢57.5m, up 10.5%, and pre-tax profit of around 拢9.5m, up from 拢6.9m last time.

Meanwhile, in a trading update yesterday Forterra said brick sales volumes were up 6% against 2019 numbers and that it expected to deliver 2021 result in line with expectations.

Analysts are expecting around 拢355m of revenue and pre-tax profit of 拢49.5m when it unveils its full-year results next March.

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