Michelmersh says dwindling confidence dents business in last three months of this year
Brick manufacturer Michelmersh has warned that trading in the final months of the year has been weaker than expected.
In a trading update, it said revenue for the year would be around £69m – down from last year’s £70m – and added: “Whilst trading and profitability have been ahead of the first half, there has been a notable slowdown in the construction market and activity levels in the final quarter.
“These activity levels have been impacted by a challenging macro-economic outlook and the uncertainty of UK Budget policy announcements, which have adversely impacted both consumer sentiment and investment decision making across the sector.”
The firm will announce its full-year results on 24 March next year.
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