Marshalls PLC Trading Update (3840R)
December 09 2016 - 2:00AM
UK Regulatory
TIDMMSLH
RNS Number : 3840R
Marshalls PLC
09 December 2016
Trading Update: 9 December 2016
Trading Performance
Marshalls' revenue for the 11 months ended 30 November 2016 was
up 3 per cent at GBP375 million (2015: GBP365 million).
UK revenue since the half year is up 4 per cent compared with
the 2015 comparatives, and was particularly strong in the Domestic
end market which, in the 5 months ended 30 November 2016, was up 15
per cent.
Sales to the Domestic end market for the 11 months ended 30
November 2016, which represent approximately 31 per cent of Group
sales, were up 10 per cent compared with the prior year period. The
survey of domestic installers at the end of October 2016 revealed
order books of 11.0 weeks (October 2015: 11.2 weeks) and compared
with 11.7 weeks at the end of June 2016.
Sales to the Public Sector and Commercial end market now
represent approximately 64 per cent of Marshalls' sales. Commercial
sales are broadly in line with the prior year. Based on public
indicators we believe we continue to outperform our peers and gain
market share.
Good progress has been made in the year to deliver the growth
initiatives set out in the 2020 Strategy. The self-help programme
to support organic growth is advanced and the drive for sustainable
operational improvements is proving successful.
Dividend
The 2016 interim dividend of 2.90 pence per share, announced on
26 August 2016, was paid on 2 December 2016 to shareholders
registered at the close of business on 20 October 2016.
We continue to be confident in our ability to meet our capital
allocation objectives of investing in the core business, rewarding
shareholders and maintaining financial prudence.
Outlook
The Board is confident of meeting its 2016 expectations.
Alongside this, the underlying indicators have remained positive in
Marshalls' main end markets while order intake and revenue growth
remains robust and the positive cash generation reported at the
Half Year has continued. Management continue to selectively
identify and monitor bolt-on acquisitions in line with our 2020
Strategy. These will only be made if they meet our robust appraisal
criteria.
Looking ahead into 2017, the Board notes the modest growth
levels highlighted by the recent Construction Products Association
autumn forecasts. The Board believes the Group's innovative product
range, strong market positions and robust balance sheet mean it is
well placed to deliver continued operational and profit
improvements.
Enquiries:
+44(0)1422
Martyn Coffey Chief Executive Marshalls plc 314777
Jack Clarke Finance Director
+44(0)20
Andrew Jaques MHP Communications 3128 8540
James White
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
2015.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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