Marshalls PLC Trading Statement (9461Z)
January 16 2020 - 1:00AM
UK Regulatory
TIDMMSLH
RNS Number : 9461Z
Marshalls PLC
16 January 2020
16 January 2020 LEI: 213800S21IFC367J5V62
Pre-Close Trading Update
Trading Performance
Group revenue for the year ended 31 December 2019 was up 10 per
cent to GBP542 million (2018: GBP491 million). Excluding the impact
of Edenhall, which was acquired in December 2018, revenue grew 3
per cent.
Sales in the Public Sector and Commercial end market, which
represented approximately 69 per cent of Group revenue, were up 15
per cent compared with the prior year period. The performance of
Edenhall has been strong and the integration plan is substantially
complete.
Sales in the Domestic end market represented approximately 26
per cent of Group revenue and were flat compared with 2018. These
results are ahead of the overall Domestic market in 2019. The
survey of domestic installers at the end of October 2019 revealed
order books of 10.9 weeks (2018: 10.8 weeks) which compared with
11.5 weeks at the end of June 2019. The Domestic market was softer
in the second half and suffered from the poor weather. However,
continued execution of the 2020 Strategy more than compensated by
improving Group margins.
During the year, the Group launched its new 5 year Business
Strategy. The objective continues to be to deliver sustainable
growth, whilst maintaining a strong balance sheet with a flexible
capital structure and a clear capital allocation policy.
Dividend
The 2019 interim dividend of 4.70 pence per share, announced on
15 August 2019, was paid on 4 December 2019 to shareholders on the
register at the close of business on 18 October 2019.
Outlook
The Board confirms it is confident of meeting its 2019
expectations.
Looking ahead, the outcome of the UK General Election in
December 2019 has created a more certain political environment and
the underlying indicators in the New Build Housing, Road, Rail and
Water Management markets remain supportive. The Group continues to
outperform the Construction Products Association's ("CPA") growth
forecasts.
The Group's Business Strategy is underpinned by strong market
positions, focused investment plans and an established brand.
The Board intends to issue its full year Preliminary
Announcement on 12 March 2020.
Enquiries:
Martyn Coffey Chief Executive Marshalls plc +44(0)1422 314777
Jack Clarke Group Finance
Director
+44(0)20 3128
Andrew Jaques MHP Communications 8540
Charlie Barker
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
2018.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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