News blog

Michelmersh Brick

  • BY: Andrew Hore |
  • POSTED: 20/05/2010 |

Brick manufacturer Michelmersh Brick expects to complete the sale of surplus assets from the purchase of Freshfield Lane Brickworks in the near future.

Surplus agricultural land should be sold for 1.4m. Two residential properties are likely to be sold for more than their book value. There should also be a profit on the sale of other properties.

Additional cash should come in from the deal with Persimmon for the Telford site. Michelmersh has also extended its debt facilities.

Like-for-like sales are well in excess of the previous year.

At 39.5p a share, up 1.5p on the day, Michelmersh is valued at 23m.

© 2018 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at Subscribe to AIM Micro RSS Feeds