Michelmersh Brick's FY24 results demonstrated resilience amid challenging market conditions, with revenue down 9.3% to £70.1m and gross margin contracting 3.1pp to 35.8% – within expectations. This performance primarily reflects pricing adjustments required to maintain stable market share in a highly competitive environment, where the Group notably grew share over 2022/23 despite sector-wide brick despatch declines exceeding 30%. Despite the impact on cash flow from £5.6m accelerated capex relat ....
