Games lift Marshall figures

LANDSCAPING materials specialist Marshalls has enjoyed a £10m boost from the Olympic Games as profits grow by almost one third.

The company this morning posted pre-tax profits of £13.7m, up 32%, as revenue grew 8% to £334.1m last year.

Despite a subdued housing market and a squeeze on consumer spending the figures included a 7% rise in sales to domestic customers while the public sector and commercial operation enjoyed 9% growth.

Marshalls has been a major supplier to the Olympic Games sites and the firm today said the £10m of sales linked to the event were at the “upper end” of its expectations.

Chief executive Graham Holden said: “Marshalls has performed well in a tough environment, benefitting from our broad domestic, commercial and public sector customer base and our strong brand. 

“Our commitment to innovation and appealing products and the development of our international activities has further boosted our performance. 

“Marshalls continues to be well placed to outperform the market in the short term and to benefit more strongly from operational gearing, once market conditions improve.”

Marshalls is looking to increase international sales to 5% of its revenues and has recently established a Chinese subsidiary.

The company will maintain the final dividend at 3.5p per share.