Marshalls PLC Trading Update (6971N)
May 20 2015 - 2:00AM
UK Regulatory
TIDMMSLH
RNS Number : 6971N
Marshalls PLC
20 May 2015
Trading Update: 20 May 2015
Trading Performance
Marshalls' revenue for the four months ended 30 April 2015 was
up 12 per cent at GBP127 million (2013: GBP113 million). This
increase is against strong comparatives for 2014. The Group
continues to experience strong order intake and sales growth in all
its end markets. The revenue growth in the year to date is slightly
ahead of our previous expectations with a consequent improvement in
profitability.
Sales in the Public Sector and Commercial end market, which now
represent approximately 64 per cent of Marshalls' total sales, were
up 17 per cent compared with the prior year period. The Group
continues to target those parts of the market where higher levels
of growth are anticipated, such as Rail, Newbuild Housing, Water
Management and Street Furniture.
Sales in the Domestic end market, which represent approximately
30 per cent of Marshalls' sales, were up 6 per cent compared with
the prior year period. The survey of domestic installers at the end
of April 2015 revealed order books of 10.6 weeks (2014: 11.5 weeks)
and compared with 9.0 weeks at the end of February 2015.
International revenue has grown by 2 per cent compared with the
prior year period and represents 6 per cent of Marshalls' sales.
Continued progress has been made in developing the International
business and its operations are now better aligned with market
opportunities. The restructuring of the Belgium business,
implemented and accounted for in the second half of 2014, has now
been completed on budget.
Outlook
The Construction Products Association's Spring Forecast predicts
growth in UK market volumes of 5.5 per cent in 2015, an improvement
on their Winter Forecast, and growth of 4.0 per cent in 2016. The
Group continues to increase output to meet growing demand and so
deliver benefits from its operational gearing.
Continued emphasis is being placed on the further development of
the Marshalls' brand across all of the Group's businesses. The
Group is investing in product innovation and service delivery
initiatives to deliver ongoing sales growth, improved trading
margins and increased return on capital employed.
Enquiries:
Martyn Coffey Chief Executive Marshalls plc +44(0)1422 314777
Jack Clarke Finance Director
+44(0)207 404
Jon Coles Brunswick Group 5959
Simon Maine
Note to the Editor:
About Marshalls:
Established in the late 1880s, Marshalls is the UK's leading
manufacturer of superior natural stone and innovative concrete hard
landscaping products, supplying the construction, home improvement
and landscape markets. Marshalls provides the product ranges,
design services, technical expertise, innovative ideas and
inspiration to transform gardens, drives and public and commercial
landscapes.
Marshalls operates its own quarries and manufacturing sites
throughout the UK, including a national network of manufacturing
and distribution sites, and has operations in Belgium and sales
representation in other international markets. As a major plc,
Marshalls is committed to quality in everything it does, including
the achievement of high environmental and ethical standards and
continual improvement in health and safety performance.
Forward-Looking Statements:
Any statements in this release, to the extent that they are
forward-looking, are subject to risk factors associated with,
amongst other things, the economic and business circumstances
occurring from time to time in the markets in which Marshalls
operates. It is believed that the expectations reflected in these
statements are reasonable but they may be affected by a wide range
of variables which could cause actual results to differ materially
from those currently anticipated. More information about the
factors that may affect Marshalls' performance is contained in the
Annual Report to shareholders for the year ended 31 December
2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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