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Michelmersh Brick
- BY: Andrew Hore |
- POSTED: 01/02/2012 |
- COMMENTS: Add yours
Brick manufacturer Michelmersh Brick traded in line with expectations in 2011.
The relatively warm winter and exposure to the South East has helped to offset higher production and haulage costs.
Michelmersh has refinanced its borrowings by entering into a £13m five-year loan with Barclays. The quarterly interest charge is at the rate of LIBOR plus 4%. An interest rate cap means that Michelmersh is only exposed to LIBOR rates up to 2%.
The 2011 figures will be published in April.
At 28p a share, up 3.5p, Michelmersh is valued at £16.3m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2012_28.pdf
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