News blog

Michelmersh Brick

• BY: Andrew Hore |
• POSTED: 07/02/2013 |

Outline planning consent has been approved by the local council for a 15 acre site in Telford that used to be a Michelmersh Brick factory. 

The Michelmersh share price has risen by 4.75p to 31.75p, valuing the brick manufacturer at £18.5m.
Michelmersh still manufactures bricks nearby and it has been hoping to redevelop the old site so this planning consent will make it more valuable. The consent is for up to 185 residential properties.

Michelmersh has previously said that there is interest from housebuilders for the surplus land in Telford and that it is likely to be sold at above asset value.

The 2012 figures will be published on 25 March. Trading was marginally ahead of expectations and a modest profit of around £20,000 is expected.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2013_40.pdf