Marshalls PLC Trading Statement (4148B)
January 10 2018 - 1:00AM
UK Regulatory
TIDMMSLH
RNS Number : 4148B
Marshalls PLC
10 January 2018
Trading Update: 10 January 2018
Trading Performance
Group revenue for the year ended 31 December 2017 was up 8 per
cent at GBP430 million (2016: GBP397 million). Group revenue
includes GBP9 million from CPM Group Limited ("CPM"), which was
acquired on 19 October 2017 and has traded strongly since joining
the Group. On a like for like basis, excluding the impact of CPM,
Group revenue was up 6 per cent.
Sales in the Domestic end market, which represented
approximately 32 per cent of Group sales, were up 12 per cent
compared with the prior year period. The survey of domestic
installers at the end of October 2017 revealed order books of 11.7
weeks (2016: 11.0 weeks) which compared with 11.9 weeks at the end
of June 2017.
Excluding CPM, sales in the Public Sector and Commercial end
market, which represented approximately 61 per cent of Group sales,
were up 2 per cent compared with 2016. The Group continues to
target those parts of the market where higher levels of growth are
anticipated including Newbuild Housing, Water Management and
Rail.
During the year, the Group has continued to deliver on the core
aspects of the 2020 Strategy. Good progress has been made on the
self-help capital investment programme, the development of new
products and the Group's digital strategy. These organic projects
have been complemented by the acquisition of CPM with its planned
integration on track with our expectations. The progress made on
both the 2020 Strategy and with CPM has allowed us to improve the
level of our sustainable operating margins.
Capital discipline remains a key priority and the Group's
positive cash generation has continued.
Dividend
The 2017 interim dividend of 3.40 pence per share, announced on
17 August 2017, was paid on 6 December 2017 to shareholders
registered at the close of business on 20 October 2017.
Outlook
The Board confirms it is confident of meeting its 2017
expectations.
The Construction Products Association ("CPA") reduced its 2018
forecast in the Autumn Update and this reflects wider economic
uncertainty. To date the Group continues to outperform the CPA
growth figures.
Marshalls' innovative product range and strong market positions
will continue to support our growth objectives and operational
profit improvements through the delivery of its 2020 Strategy.
Enquiries:
Martyn Coffey Chief Executive Marshalls plc +44 (0) 1422 314777
Jack Clarke Group Finance Director
Andrew Jaques MHP Communications +44 (0) 20 3128 8540
James White
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 national network of manufacturing
and distribution sites, and has operations in Belgium and sales
representation in other international markets. As a major plc,
Marshalls is committed to quality in everything it does, including
the achievement of high environmental and ethical standards 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
2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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