Michelmersh: back to black

Brick maker Michelmersh is back in the black after recording an operating profit of £1.5m in the year to December 31 2011 after a £500,000 loss in the previous year.

Turnover ticked-up 4% to £24.3m as the firm sold 70 million bricks at an improved average price of £345 per thousand compared to £330 in 2010.

Michelmersh said the market is divided geographically and by product type and expects further consolidation in the sector this year.

Chairman Eric Gadsden said: “Our competitors have made further plant closures in 2011 and already in 2012. Our business will in due course benefit from the reduction in over capacity in the high end, quality brick market.