28th Aug 2015 07:07
LONDON (Alliance News) - Landscape products company Marshalls PLC on Friday said its pretax profit leaped in the first half of 2015 on the back of better revenue and improved margins.
The company, which makes paving products, said its pretax profit in the six months to the end of June was up to GBP20.8 million, compared to a GBP14.0 million profit a year earlier, a 48% rise. The group's revenue rose to GBP199.1 million from GBP180.0 million and its operating margin improved to 11.1% from 8.7% a year earlier.
Marshalls said trading conditions continue to be positive in its key markets, with both strong order intake and sales growth. Should this continue into the second half, the company anticipates its full-year results will come in ahead of its original expectations.
Public sector and commercial sales in the first half were up 15%, while domestic sales were up 4% and international sales rose 7%.
Marshalls said it would hike its interim dividend by 13% on the results to 2.25 pence from 2.00 pence.
"The group is well positioned to grow organically and selectively through acquisitions. We will continue to focus on growth initiatives during the remainder of 2015 and in 2016," said Martyn Coffey, Marshalls' chief executive.
Shares in Marshalls were up 4.9% just after the open on Friday to 332.00 pence, one of the best performers in the FTSE All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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