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Michelmersh FY revenues enhanced by Belgian acquisition
15th Jan 2020 08:53
(Sharecast News) - Brick manufacturer Michelmersh updated investors on the state of the company following its recently wrapped up trading year on Wednesday.
Michelmersh said it expects underlying revenues and profits from the group, enhanced by the addition of Belgian business Floren & Cie in February 2019, would be in line with market expectations.
The AIM-listed group also highlighted that it had experienced strong cash performance in the second half of the year, resulting in net debt being better than market expectations.
Michelmersh intends to report its 2019 full-year results on 31 March.
As of 0850 GMT, Michelmersh shares were down 1.18% at 126.98p.
Michelmersh said it expects underlying revenues and profits from the group, enhanced by the addition of Belgian business Floren & Cie in February 2019, would be in line with market expectations.
The AIM-listed group also highlighted that it had experienced strong cash performance in the second half of the year, resulting in net debt being better than market expectations.
Michelmersh intends to report its 2019 full-year results on 31 March.
As of 0850 GMT, Michelmersh shares were down 1.18% at 126.98p.