Firm says consumers stayiong cautious in wake of worries over interest rate
Pre-tax profit at Michelmersh fell again last year with the brickmaker warning that confidence for the year ahead remained brittle.
The firm, which works in the UK and Belgium, said profit slipped 46% to £4.3m, having fallen by a third the previous year.
Revenue was down by just under 2% to £70m which the firm said “reflect[ed] a robust 2025 UK brick sales performance”.
But it admitted that confidence for 2026 had “diluted” and added: “We enter the new financial year with continued uncertainty around momentum in the wider UK construction industry and Belgium brick markets.
“Consumers remain cautious with affordability considerations and interest rate levels affecting their confidence to move or improve their homes and as a result the expected timeline for a market recovery continues to be uncertain.”
The firm said its net debt at the year-end was £700,000 from a net cash position of £6m last time.
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