Marshalls PLC
28 May 2003
28 May 2003
MARSHALLS PLC
AGM STATEMENT
Speaking at the Annual General Meeting today, 28 May 2003, Mr Christopher
Burnett, Chairman of Marshalls plc, the specialist Landscape, Clay and Natural
Stone Products Group, said:
'With our AGM being held a little later than normal this year, I am able to
comment on trading for almost five months of this financial year.
Sales to date are comfortably ahead of what was a period of strong trading in
2002, when particularly in the first quarter, customers stocked up in advance of
the introduction of the Aggregates Levy. Cumulative sales, on a like for like
basis, this year are 6 per cent ahead of 2002 after adjusting for a small
acquisition, but more importantly, after excluding the sales of our flooring
business sold in November 2002. Actual sales are up 1 per cent.
In the Landscape Products Division, where most of the increase in customer stock
levels in 2002 took place, sales are, pleasingly, ahead by 5 per cent. Market
intelligence, provided by the group of independent driveway and patio installers
on the Marshalls Register, continues to confirm strong order books in the
domestic sector. Demand in the public sector remains strong.
Sales in our remaining Divisions, Clay Products, Natural Stone and Emerging
Businesses are all ahead of last year, collectively by 9 per cent on a like for
like basis.
On 4 July 2003, we will be providing the Market with our usual half year trading
update when fuller details will be given on the performance of the business
ahead of the announcement of our Interim Results on 5 September 2003.'
Enquiries:
Christopher Burnett Chairman Marshalls plc 01484 438900
Ian Burrell Finance Director Marshalls plc 01484 438900
Jon Coles Brunswick Group 0207 404 5959
William Cullum Brunswick Group 0207 404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
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