Michelmersh says dwindling confidence hits business
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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