Michelmersh Brick generated revenue of £46.3m in the year to 31st December 2018 (2017: £37.9m). Pre-tax profit was £6.4m (2017: £3.3m). This was even after £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: “As 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.
“Whilst 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.”