Michelmersh Brick well placed for 2010

9th Aug 2010 07:54

Specialist brick, land development and landfill firm Michelmersh Brick said trading during the first half has been in line with management's expectations and is well placed for 2010 and beyond. The group also announced that financial director Craig Robinson is leaving the company with immediate effect, to pursue other interests.Steve Morgan has been appointed as chief financial officer and company secretary who will oversee the integration of administration and finance functions across the enlarged group.Revenues are up at all plants on an equivalent basis despite weather conditions at the beginning of the year, the group said. Prospects for the full year are in line with current market forecasts.Michelmersh, which completed the acquisition of Freshfield Lane Brickworks, said it has been successfully integrated into Michelmersh and the synergies available are being fully exploited. "The company has, as envisaged, achieved sales now matching full production levels and a new hand made line has been installed. Improved margins have been achieved at all plants," it said.Looking ahead Michelmersh said prospects remain encouraging and the company has identified a number of new opportunities for the development of the business, which are now being actively considered and pursued.