Shares in Michelmersh Brick (MBH) fell 17 per cent after the specialist brick manufacturer warned that profits for the year to the end of December will be at or around a similar level to the previous year.
IC TIP:
Hold
at
52p
Increased competition has meant that average selling prices will not now rise to levels previously anticipated. In fact, average selling prices have been falling across the market this year, and joint chief executive Frank Hanna reckons there will be little or no recovery in prices at the start of 2017.