Michelmersh Brick ahead of budget, shares jump

5th Apr 2011 12:38

A cheery trading update helped specialist brick supplier Michelmersh Brick build big gains Tuesday."Michelmersh is pleased to report that orders, sales and production of brick products in the first quarter of 2011 were ahead of budget and the Board is encouraged for the prospects for 2011," the company said.The company also announced that it has acquired a 25% stake in Jeffery Building Products, a brick distribution business covering the North of England.The company, which is based in Haywards Heath, West Sussex, said: "The acquisition of this stake in Jeffery represents a strategic partnership in a geographical area where Michelmersh has, to date, had limited representation and presents an opportunity to expand sales and establish a presence in a potentially lucrative market."RG