Marshalls PLC
06 July 2005
6 July 2005
Marshalls plc
Trading Statement - Six Months to 30 June 2005
Marshalls' revenue from continuing operations, including acquisitions, in the
six months to 30 June 2005 was £185.1 million (2004: £172.7 million).
Revenue from continuing operations, on a like for like basis, was down 1.3% at
£170.5 million (2004: £172.7 million). Acquisitions and new business
initiatives, including the pilot Garden and Driveway Transformation Centre in
Scotland, contributed an additional £14.6 million. The process of integrating
the 2004 acquisitions into the Group is proceeding to plan.
Sales to the public sector and commercial market, which represent half of Group
revenue, were ahead of 2004 and demand remains robust. After an encouraging
start to the year sales to the domestic market in the second quarter of the year
were disappointing, reflecting the widely reported consumer slowdown.
Domestic installers' average order books ended the period at 8.9 weeks compared
to 10.2 weeks at the beginning of the year and 11.9 weeks at the same time last
year.
The Group will announce interim results, prepared in accordance with
International Financial Reporting Standards, on Friday 9 September 2005.
Graham Holden, Chief Executive, commented
'Our market intelligence shows that public sector and commercial demand, which
represents half of Group revenue, remains robust. However, domestic markets are
expected to remain challenging reflecting weaker consumer confidence and the
industry is forecasting a reduction in private housing repair, maintenance and
improvement expenditure. The continuing review of our cost base, together with
our leading product portfolio, innovative marketing techniques and strong
balance sheet ensure that we are well positioned to operate in these more
difficult market conditions.'
Enquiries:
Graham Holden Chief Executive Marshalls plc 01484 438900
Ian Burrell Finance Director Marshalls plc 01484 438900
Jon Coles Brunswick Group LLP 0207 404 5959
Sarah Tovey Brunswick Group LLP 0207 404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
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