StockMarketWire.com - Michelmersh Brick Holdings almost doubled its annual profit, supported by a strong housing construction market.

Pre-tax profit for the year through December rose 93% to £6.4m, as revenue rose 22% to £46.3m, partly boosted by the acquisition of Belgian clay brick manufacturer Floren.

Gross margin jumped 3.5 percentage points to 38.9% and underlying operating profit climbed 45% to £8.0m.

The company declared a full-year dividend of 3.2p per share, up 49% on-year.

'The acquisitions of Carlton and Floren demonstrate that the group has ambition to expand its geographic footprint and product range,' chairman Martin Warner said.

'However, this growth is set within strict parameters to preserve the character and position of Michelmersh in its sector.'

'The board is equally committed to nurturing its existing business and investing to improve efficiency, as well as acting as a good corporate citizen for the benefit of all its stakeholders.'



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