Payroll firm says fall underlines housing’s ongoing problem but brickmaker issues upbeat trading update
Payroll firm Hudson Contract has said payments to bricklayers fell by more than 10% last month, underlining the problems facing the struggling housing market.
It said there was an 11% fall in the number of payments made to bricklayers in October by brickwork contractors.
The firm said average earnings for tradespeople last month increased by 2.6% last month. Workers in the East of England enjoyed the highest weekly rates, rising 4.3% to £1,103.
Meanwhile, brick manufacturer Michelmersh said in an update today that trading this year was in line with expectations. It added: “We have continued to operate at full manufacturing capacity to deliver our diverse forward order book.”
Broker Investec is expecting turnover to be up more than 20% to £82.6m although pre-tax profit is slated to be down £400,000 to £11m.
Michelmersh will release its 2023 results on 26 March.