Brick maker Michelmersh (MBH) has completed a £2.2m expansion of its Freshfields Lane plant, which should lead to a 20 per cent increase in unit production for the site, growing total capacity to 72m bricks a year. With nationwide stockpiles of bricks depleted, Michelmersh has upped supply at the same time as increasing prices by 4.8 per cent.
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Analysts at Cenkos Securities retain their 2014 pre-tax profit forecast of £2.8m and diluted earnings per share of 2.6p, rising to 2.9p in 2015.