Trading Update

RNS Number : 6855O

Marshalls PLC

02 July 2010

 



Trading Update: 2 July 2010

Current trading in line with expectations

Trading Performance

Marshalls' headline revenue for the half year ended 30 June 2010 was in line with expectations at £170 million (2009: £166 million).

Like for like sales were 2 per cent ahead with sales to the Public Sector and Commercial end market being 3 per cent ahead and Domestic end market sales being flat.  Market demand has stabilised following the severe winter working conditions.  

Dividend

The 2009 final dividend of 3.50 pence per share is being paid today, 2 July 2010, to shareholders that were registered at the close of business on 4 June 2010.

Outlook

The current stabilisation in demand is encouraging but we remain cautious.  Consumer and business confidence, together with levels of commercial and public spending investment plans, will determine the trajectory of future demand.  

At the end of June 2010 the GfK NOP consumer confidence index, although still negative, showed an improvement of 6 points on a year ago.  The survey of domestic installers at the end of June 2010 revealed order books of 9.0 weeks (2009: 7.1 weeks) up from 8.4 weeks in April 2010.  Our Barbour ABI lead indicator for Public Sector and Commercial end market projects indicates a small increase in the expected level of demand from late 2010 and into early 2011 which is consistent with the Construction Products Association forecast of a return to growth, albeit at a low level, in 2011.

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

Marshalls will be announcing its results for the half year ended 30 June 2010 on 27 August 2010.

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

 

2 July 2010

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 locations.  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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