18th Jan 2022 09:00
(Alliance News) - Marshalls PLC on Tuesday posted sufficient growth in revenue for 2021 to outperform pre-pandemic levels, leading to boosted expectations of its annual performance.
For the year, the Elland, West Yorkshire-based paving stones maker reported revenue of GBP589 million, up 26% from GBP469 million in 2020 and also 8.7% higher from the GBP542 million reported for 2019.
In particular, Marshalls said that revenue growth in the second half of the year was "increasingly strong", 11% ahead of 2019 comparatives.
The group posted year-on-year revenue growth in all markets, with Public Sector & Commercial end market revenue rising 26% to GBP389 million, and representing 66% of total group sales.
Looking ahead, market demand has remained strong, and trading volumes have outperformed the Construction Products Association's growth forecasts, leading to Marshalls revising its expectations for 2021 to be ahead of its previous view.
In addition, despite ongoing supply chain challenges, order intake in recent weeks is 13% higher than the same period a year before in volume terms.
Marshalls will publish its annual results on March 17.
Shares in Marshalls were up 4.4% at 719.00 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Marshalls