Interim Management Statement

RNS Number : 6559L

Marshalls PLC

11 May 2010

 



Interim Management Statement: 11 May 2010

Current trading in line with expectations

Trading Performance

Marshalls' headline revenue for the four months ended 30 April 2010 was in line with expectations at £103 million (2009: £103 million) despite the adverse impact on outdoor working conditions in January caused by the snow.

Like for like sales were very similar to last year as were the proportions of sales to the Public Sector and Commercial and Domestic end markets.

The survey of domestic installers at the end of April 2010 revealed order books of 8.4 weeks (2009: 7.1 weeks) up from 6.8 weeks at the end of February 2010.

Board Changes

Marshalls has previously announced a number of Board changes which will take place immediately following the Annual General Meeting on 12 May 2010.  Mike Davies and Richard Scholes will be stepping down from the Board of Directors and two new independent Non-Executive Directors, Alan Coppin and Mark Edwards, will join the Board.  Andrew Allner, who has been a Board member since July 2003, will become Chairman of Marshalls plc.

Outlook

During the last two years Marshalls has built additional financial and operating flexibility into the business and is well placed to respond to changing market conditions and to benefit from any improvement in market demand.  Marshalls continues to invest selectively in new products to build on its strong brand and market leading position.  

Marshalls remains cautious about the short term outlook, but is encouraged by the positive impact of increasing Olympic demand and the recent commencement of previously delayed commercial contracts.

Enquiries:

Graham Holden	Chief Executive	Marshalls plc	01484 438900
Ian Burrell	Finance Director	Marshalls plc	01484 438900
Jon Coles		Brunswick Group	0207 404 5959
Kate Miller		Brunswick Group	0207 404 5959

 

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 network of regional service centres and 2 National manufacturing and distribution sites.  As a major plc, Marshalls is committed to quality in everything it does, including environmental and ethical best practice 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 2009.

 

END

 

 

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