£542m revenue for listed building and landscaping supplies firm
Group revenue for Elland-based building and landscaping supplies company Marshalls climbed 10% to £542m (2018: £491m) for the year ended 31 December 2019.
Excluding the impact of South Wales-based manufacturer Edenhall, which was acquired by Marshalls in December 2018, revenue grew 3%.
Sales in the Public Sector and Commercial end market, which represented about 69% of Group revenue, were up 15% compared with the prior year period.
Marshalls, which released its pre-close trading update today, also reported: “Sales in the Domestic end market represented approximately 26% of Group revenue and were flat compared with 2018.
“These results are ahead of the overall Domestic market in 2019.
“The Domestic market was softer in the second half and suffered from the poor weather. However, continued execution of the 2020 Strategy more than compensated by improving Group margins.
“During the year, the Group launched its new five-year Business Strategy. The objective continues to be to deliver sustainable growth, whilst maintaining a strong balance sheet with a flexible capital structure and a clear capital allocation policy.
“Looking ahead, the outcome of the UK General Election in December 2019 has created a more certain political environment and the underlying indicators in the New Build Housing, Road, Rail and Water Management markets remain supportive.
“The Group continues to outperform the Construction Products Association’s growth forecasts.”
Marshalls’ Board intends to issue its full year Preliminary Announcement on 12 March 2020.
