Marshalls PLC Trading Statement (4243N)
May 09 2018 - 1:01AM
UK Regulatory
TIDMMSLH
RNS Number : 4243N
Marshalls PLC
09 May 2018
LEI: 213800S21IFC367J5V62
Trading Update: 9 May 2018
Board expectations for 2018 remain unchanged
Trading Performance
Group revenue for the four months ended 30 April 2018 was up 10
per cent at GBP149 million (2017: GBP135 million). In common with
the rest of the industry, the severe weather conditions in this
period have had a significant impact on sales with snow and ice
making ground working difficult and our factories having to be
closed for a number of days. It is estimated that the impact of the
weather resulted in a reduction in sales of approximately GBP9
million. Sales in both the Domestic and Public Sector and
Commercial end markets were strong in the weeks not impacted by the
weather.
Sales in the Domestic end market, which represented
approximately 29 per cent of Group sales, were significantly
impacted by the severe weather and were down 2 per cent compared
with the same period in the prior year. The survey of domestic
installers at the end of April 2018 revealed order books of 10.9
weeks (2017: 12.7 weeks) which compared with 10.8 weeks at the end
of February 2018.
Sales in the Public Sector and Commercial end market, which
represented approximately 66 per cent of Group sales, were up 18
per cent compared with the same period in the prior year.
Good progress continues to be made in executing the 2020
Strategy and the self help programme to drive organic growth is
progressing well. The Group continues to target those parts of the
market where higher levels of growth are anticipated, including New
Build Housing, Water Management and Rail. CPM Group Limited, which
was acquired in October 2017, has continued to trade strongly and
the integration is progressing in line with our expectations.
Outlook
The Construction Products Association ("CPA") has slightly
reduced its 2018 forecast in the recent Spring Update, which
reflects wider economic uncertainty.
The Board believes that Marshalls' innovative product range and
strong market positions mean the Group is well placed to deliver
continued future growth.
Notwithstanding the effects of the severe weather, the Board
remains confident of delivering its 2018 expectations.
Enquiries:
Marshalls +44(0)1422
Martyn Coffey Chief Executive plc 314777
Jack Clarke Group Finance
Director
+44(0)20 3128
Andrew Jaques MHP Communications 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
2017.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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