2 September 2013 – interim results
The specialist brick company has announced its interim results for the six months to 30 June revealing a 10% increase in revenues to £13.1m, although the company reported a loss before tax of £2.4m after restructuring costs of £2.2m. Although there are some signs of recovery in the group’s markets, the group now only expects to break-even for the full year before exceptional costs, although only a small profit had been expected before. After the strong run in the share price we reduce our recommendation to HOLD.