StockMarketWire.com - Specialist brick manufacturer Michelmersh Brick reported a 61% rise in annual profit, indicating its business was traveling well before the Covid-19 crisis hit.

Pre-tax profit for the year through December rose to £10.4m, up from £6.4m on-year, as revenue climbed 16% to £53.5m.

Underlying operating profit rose 13% to £10.3m.

The company last week, in a separate announcement, deferred all dividend payments, having suspended deliveries at all of its plants due the disease pandemic.

'Following a record year and strong first quarter, the group is in a sound financial position with significant cash reserves and assets,' chairman Martin Warner said.

'As announced last week, we have taken the necessary immediate steps to protect the business for the benefit of all stakeholders in the midst of the current crisis.'

'These measures will be kept under constant review.'




At 8:07am: [LON:MBH] Michelmersh Brick Holdings PLC share price was +1.5p at 87.5p



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