Double digit growth for listed landscaping firm

Landscaping and construction supplier Marshalls has reported double digit growth in both its revenues and profits during a six month period when its “outperformed” the sector.

The Elland-based listed business this morning published its half-year results to 30 June 2019. Revenue rose 15% – from £244m to £280m. Meanwhile, pre-tax profit rose 14%; from £32m in the previous year to £37m in the current period.

Marshalls said: “Trading has remained strong in the first half despite the poor weather in June. Key underlying indicators remain positive in Marshalls’ end markets.”

Martyn Coffey, Chief Executive, said: “The Group continues to outperform the Construction Products Association’s (“CPA”) growth figures, despite ongoing political and Brexit uncertainty.  The CPA’s recent Summer Forecast predicts a decrease in UK market volumes of 0.3 per cent in 2019, followed by an increase of 1.0 per cent in 2020, while the underlying indicators in the New Build Housing, Road, Rail and Water Management markets remain supportive.  Post period-end trading has remained strong.

“The Board believes that the Group’s new 5 year Business Strategy will continue to deliver sustainable growth, whilst maintaining a strong balance sheet and a flexible capital structure. The strategy is underpinned by strong market positions, focused investment plans and an established brand.

 “The Board is increasingly confident of at least achieving its expectations for 2019.”

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