Marshalls' sales up 18%
Marshalls, the specialist landscape products company, today (5 November) issued its Interim Management Statement for the 10 months ended 31 October.
Its revenue from continuing operations was up 18% on last year at £312million (2013 = £265million). The Group says it continues to experience strong order intake and sales growth in all its end markets and that if the positive market conditions continue it is likely the full year results will be above current market expectations.
Sales to the Public Sector and Commercial end market, which now represent approximately 63% of Marshalls' sales, were up 21% on a continuing basis. The Group continues to target those parts of the market where higher levels of growth are anticipated, such as Rail, Home, Landscape Water Management and Internal Natural Stone Flooring.
Sales to the domestic end market, which represent approximately 31% of Group sales, were up 10% compared with the same period last year.
Continued progress has been made in developing the international business, where revenue has grown by 34% in the ten months ended 31 October 2014 and has now reached 6% of Group sales.
The 2014 interim dividend of 2p per share, announced on 28 August, will be paid on 5 December to shareholders registered at the close of business on 24 October 2014.
As for the outlook, Marshalls says the Construction Products Association's Autumn Forecast predicts growth in UK market volumes of 4.8% in 2014 and 5.3% in 2015, which is greater than the predictions in the Summer Forecast.
Marshalls Group says it continues to increase output to meet growing demand and to deliver benefits from its operational gearing. The Group says it remains focused on product innovation and service delivery initiatives to deliver continued sales growth and improve trading margins.