Michelmersh Brick – interims, how confident to be of “trading within full year market expectations”?

Describing itself as “currently owns most of the UK’s premium manufacturing brick brands and is a leading specification brick and clay paving manufacturer”, Michelmersh Brick (MBH) states that it “is pleased to report its half year results for the six months ended 30 June 2026… trading within full year market expectations”. What about the shares currently at below 75p having reached above 96p early this year?

Michelmersh Brick (#MBH) – H1 adj. EPS slightly up at 3.3p, “remain watchful of… consumer confidence”

Michelmersh Brick (#MBH) – “currently expect the company to deliver performance in line with full-year expectations”, but notes trading conditions uncertainty

Michelmersh Brick (#MBH) – 2025 adj. EPS -8% to 7.5p, DPS maintained at 4.6p, although still “headwinds… confident that the company will deliver growth in 2026”

Michelmersh Brick – “Pre-Close Trading Update”, how’s trading after in September stating “improved trading continuing”?…

Describing itself as “Britain’s brick specialist” Michelmersh Brick (MBH) has issued a trading update including that it “expects revenue for the year to be c.£69.0 million with adjusted EBITDA of approximately £12.5 million”. With the shares already down from above 100p as recently as September, what about currently a slight further fall to now below 85p?

Michelmersh Brick (#MBH) – “notable slowdown in the construction market and activity levels in the final quarter” profit warning

Michelmersh Brick – emphasises “resilient first half of 2025”. Er, so what about the 22% house broker earnings forecast cut now?!

Most recently writing on manufacturer and fabricator of bricks Michelmersh Brick (MBH), in May with the shares at 105p I concluded ‘it looks prudent to at least wait for comfort on 2025 trading later into the year before advancing from the recovery watchlist’. The shares most recently closed at 97.6p and now the company states that it “is pleased to report its half year results for the six months ended 30 June 2025”… and so what of the shares currently responding down to below 90p?

Michelmersh Brick (#MBH) – H1 adj. EPS down to 3.3p, DPS maintained at 1.6p, expects FY “broadly reflective” of prior year financial performance

Michelmersh Brick – AGM emphasising “full year expectations are unchanged”, but that only after a prior profit warning…

I noted earlier today that a “Trading Update” from UK window, door and roofline products company Eurocell (ECEL) was a profit warning which dare not speak its name, so what about also today an “AGM Statement and Trading Update” announcement from company describing itself as “Britain's Brick Specialist”, Michelmersh Brick (MBH)?

Michelmersh Brick (#MBH) – “supportive order intake… full year expectations are unchanged”, Rachel Warren to join as CFO

Michelmersh Brick (#MBH) – 2024 adj. EPS down to 8.18p, DPS edged up to 4.6p, order intake “positive momentum… continued into Q1 2025”

Michelmersh Brick (#MBH) – trading “benefiting from the quality of the order book”, “in line with market expectations”

This Brill Brick Maker Set to Benefit from New Government's Housing Pledge.

Hello Share thrashers. The new government seems slow in getting going, but it has promised to ease the housing shortage by encouraging the building of 300,000 new homes a year. That will take extra bricks and Sussex-based Michelmersh Brick Holdings (MBH) is set up to provide them. It already makes 122 million bricks and paving stones a year and it’s been expanding steadily since he late nineties when it was formed.

Michelmersh Brick – interims state “positioned well… positive momentum in our order intake”, but it’s actually a material profit warning!

Bricks manufacturer and fabricator Michelmersh Brick (MBH) has issued “pleased to report” results for the first half of 2024 including emphasising “resilient… outperforming market despatch volumes; a result of the diversity of our end markets and the quality of our products… Positive momentum in our order intake and at levels not seen since 2022”. So what of a current share price response falling to below 100p?

Michelmersh Brick (#MBH) – H1 adj. EPS -25% to 4.28p, DPS +7% to 1.6p, currently expects H2 “broadly reflective” of H1

Michelmersh Brick (#MBH) – argues positioning to deliver FY expectations, though that with “anticipate increased despatch volumes for the remainder of the financial year”

Michelmersh Brick (#MBH) – 2023 adj. EPS up to 11.91p, DPS +6% to 4.5p, argues expects “resilient” order intake for 2024

Michelmersh Brick (#MBH) – trading “in line with market expectations”, helped by its opening order book

Michelmersh Brick (#MBH) – H1 adj. EPS +12%, DPS +15%, expects FY “resilient demand across… diverse end market customer base”

Michelmersh Brick (#MBH) – with joint CEO Frank Hanna to leave for Brickability (#BRCK), Peter Sharp to become sole CEO