StockMarketWire.com - Brick and paver maker Michelmersh Brick posted a rise in first-half profit and said it expected to exceed market expectations for its full-year performance.

Pre-tax profit for the six months through June rose 41% to £4.0m, up from £2.9m on-year.

Revenue rose 17% to £27.2m and underlying profit rose 18% to £5.2m.

The company declared an interim dividend of 1.15p, up 8.5% on-year.

'Following a very strong first half in 2019, and with a robust order book, Michelmersh can look forward to steady trading for the remainder of the year,' chairman Martin Warner said.

'Stocks across the industry remain at historically low levels and the volume of imported products are increasing.'

'The group's performance in the first half of 2019 has continued into the second half and, with the positive backdrop to our markets, the board expects to exceed market expectations for the full year.'




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