StockMarketWire.com - Specialist brick manufacturer Michelmersh Brick posted a 50% drop in first-half profit as the pandemic hit construction markets.

Pre-tax profit for the six months through June fell to £2.0m, as revenue slipped 17% to £22.5m.

Michelmersh Brick did not declare an interim dividend.

The company said it had a 'robust' second-half forward order book, in line with same period last year.

'The group's performance in the first half of 2020 demonstrates resilience and management actions to protect our stakeholders,' chairman Martin Warner said.

'Trading has returned to a stable state, with no impact on capacity under our new operating conditions.'

'While the broader economic outlook remains uncertain over the coming months, based on the continued strong brick market fundamentals and our performance since operations have resumed, the directors are positive on the outlook for the company.'


At 8:56am: [LON:MBH] Michelmersh Brick Holdings PLC share price was +1.5p at 102.5p



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