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(Sharecast News) - Michelmersh Brick said in an update on Thursday that its full-year expectations remained unchanged, as it continued to see supportive order intake across its markets, despite ongoing competitive pricing pressures in some segments.
The AIM-traded brick manufacturer, which was holding its annual general meeting, reported a stable forward order book, helped by the successful implementation of mid-single digit price increases in April to offset earlier cost inflation.
It confirmed that manufacturing had resumed at its Floren, Michelmersh and Carlton sites following planned closures for capital improvements earlier this year.
The company said it expected stable despatch volumes for the rest of 2025, while remaining cautious on pricing and demand in the repair, maintenance and improvement (RMI) segment.
Medium-term fundamentals across its UK and Benelux markets were described as supportive.
Michelmersh also announced the appointment of Rachel Warren as its chief financial officer.
Warren would join the company later in the year from Wincanton, where she served as group finance director, following a long career with IAG, including senior roles at British Airways and Aer Lingus.
The company said Warren's operational and financial experience would support its ongoing strategic development.
Subject to shareholder approval, a final dividend of 3p per share was set to be paid on 9 July.
At 1106 BST, shares in Michelmersh Brick holdings were up 0.17% at 105.18p.
Reporting by Josh White for Sharecast.com.
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