Michelmersh Brick generated revenue of 拢46.3m in the year to 31st December 2018 (2017: 拢37.9m). Pre-tax profit was 拢6.4m (2017: 拢3.3m). This was even after 拢390,000 of redundancy costs incurred from a restructuring.
Brick production volumes rose to a group record 106 million units despite the disruption of the restructuring of the Michelmersh plant.
Chairman Martin Warner said: 鈥淎s in previous years, the outlook for the coming year is positive in that demand for our products remains strong and the operational environment conducive to a robust brick industry. The UK still manufactures less bricks than being used and capacity cannot change significantly over the short term.
鈥淲hilst Brexit has raised many concerns across the UK business landscape, a specific review of markets, customers and suppliers has not revealed significant threats to our business other than a wider economic downturn, whilst the political landscape around the construction industry gives an expectation that it will be less affected than elsewhere.鈥�
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