Michelmersh Brick expects significant revenue boost after Carlton acquisition
AIM-listed brick maker Michelmersh (MBH) expects revenue and profit to meet market expectations for the 2017 trading year after finalising the integration of recently acquired Carlton Brickworks.
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Michelmersh picked up Carlton in June for £31.2m, increasing its capacity to more than 100m bricks as a result, noting the business was "bedding in as expected", with operational synergies beginning to come through.
"Demand from the house building and RMI markets continues to be robust and group's well-balanced forward order book for 2018 reflects this trend," said the group.
Michelmersh said it expected to see a significant boost to second half earnings as a result of the Carlton acquisition when it releases its full-year trading update for the year ended 31 December on 19 March.
As of 1000 GMT, shares had gained 2.82% to 91.00p.