Interim Management Statement

RNS Number : 8156R

Marshalls PLC

10 November 2011

 



Trading Update: 10 November 2011

Current trading in line with expectations

Trading Performance

Revenue from continuing operations for the ten months ended 31 October 2011 increased by 7 per cent to £298 million (2010: £278 million from continuing operations).  

Sales to the Public Sector and Commercial end market, which represent approximately 60 per cent of Marshalls' sales, were up 8 per cent on a like for like basis.  Sales to the Domestic end market increased by 6 per cent including sales into overseas Domestic end markets.

The survey of domestic installer order books at the end of October 2011 showed 7.8 weeks (October 2010: 8.1 weeks) compared with 7.0 weeks in June 2011.  

Dividend

The 2011 interim dividend of 1.75 pence per share, announced on 26 August 2011, will be paid on 2 December 2011 to shareholders registered at the close of business on 28 October 2011.

Outlook

The Group's marketing and sales initiatives continue to deliver positive results and, although at the macro economic level market uncertainty remains, Marshalls' sales have maintained their positive trend.  Within the Public Sector and Commercial end market there is continuing strength in Commercial to offset the anticipated weakness in Public Sector demand.

After a positive start to the year, the UK Domestic end market remains more subdued and market volumes are expected to be lower in the second half of the year against strong comparatives.  This weakness will be offset by sales into overseas Domestic end markets.

Marshalls continues to have strong operational and financial flexibility.  Selective investment in new products and new markets continues and is key to delivering sales growth.

Enquiries:

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

10 November 2011

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, including a national network of manufacturing and distribution sites throughout the UK.  As a major plc, Marshalls is committed to quality in everything it does, including the achievement of 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 2010.

 

END

 

 

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