This month, Michelmersh Brick Holdings (MBH will have a further 19 shortlisted projects featured in the Brick Development Association’s (BDA) Brick Awards 2021, it told investors.
The specialist brick manufacturer said shortlists for the ‘highly commended and prestigious’ Brick Development Association’s (BDA) Brick Awards 2021 were unveiled back in August.
The Company explained that the BDA awards are to recognise excellence within design and construction and that each year, a total of 18 trophies are awarded from hundreds of entries.
‘With an exceptional number of shortlisted projects in over 12 categories, Michelmersh is hopeful for another year of success,’ the Company told investors in a recent statement.
The Brick Awards have been running for a total of 45 years. This year’s ceremony is set to take place next week on Wednesday 10th November 2021 at Royal Lancaster, London.
Amongst Michelmersh’s 19 featured projects to be shortlisted are The Reach by Pitman Tozer, Radley College L-Social by GBS Architects, Kirkholt Health Centre by Triangle Architects, Hobhouse Court by Brisac Gonzalez, Wolvertan Hall Folly by Quinlan Terry Architects, House within a House by Alma-nac and UCLH by Pilbrow and Partners.
Michelmersh was the first manufacturer to gain the full three-star Brickmakers Quality Charter accreditation – a credential scheme created by the Brick Development Association
‘The Group continues to make its mark in the industry, and to feature in 19 shortlisted projects is a reminder of the excellence Michelmersh strives itself upon,’ it outlined to shareholders.
Frank Hanna, Joint CEO of Michelmersh, commented: “As Britain’s Brick Specialists, Michelmersh is thrilled to have so many influential projects shortlisted in the Brick Awards for another year. The Awards highlight how brilliant brick is; stunning, safe and sustainable.
To be shortlisted for a vast 19 projects with differing architectural merits is a fantastic achievement in itself, and it truly displays the quality of Michelmersh’s premium products and craftsmanship capabilities. Congratulations and good luck to all those who are shortlisted!”
In its recent 1H21 results Michelmersh Brick Holdings told investors that it had made “a very strong start to 2021,” with revenue and profit ahead of its 2019 pre-Covid-19 performance, thereby prompting the Board to declare an interim dividend of 1.15 pence per ordinary share.
The specialist brick manufacturer said its performance in 1H21 had fallen ahead of 2019 pre-Covid-19 comparison ‘across all financial metrics’ with the Company’s operational leverage and focus on production efficiency supporting margin growth ahead of 2019 levels.
In September, the Company said the ‘very strong set of results’ had benefited from the continuing recovery of the construction sector, which started to improve in the 3Q20, and that the fundamentals in its end markets importantly remain well backed by Government policy.
As a result, the Group declared an interim dividend of 1.15p (30 June 2020: £nil) to reflect its commitment to a progressive dividend policy and its confident outlook for the business.
The Company outlined to investors that the interim dividend will be paid on 13 January 2022 to members on the register on 3 December 2021. The Group will also offer shareholders a scrip alternative to a cash dividend with a scrip election date of 20 December 2021, it said.
With this dividend, it is returning to its policy of one third of the total annual dividend being paid at the interim stage and two thirds of the total annual dividend being paid at the full year.
Overall, the Group said its results underline its continuing success of improving efficiency and returns from its existing business, as well as the benefit of reduced finance costs from the voluntary repayment of £10 million of borrowings at the end of the 2020 financial year.
It said 2H21 will be a stronger cash generative period than 1H21 and, as a result, it expects to further rationalise borrowings before the end of FY21. Its long-term policy is to maintain a strong financial position and keep the ratio of net debt to adjusted EBITDA under two times.
Following these results, and with ‘a robust and balanced forward order book’, Michelmersh said it looks forward to continued positive trading for the remainder of the financial year.
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