16th Jan 2020 08:46
(Alliance News) - Marshalls PLC on Thursday reported a double-digit revenue increase for 2019, thanks to its newly-acquired business, even as the Domestic unit was hurt by bad weather conditions.
The construction and home improvement products manufacturer said revenue for 2019 was up 10% to GBP542 million compared to GBP491 million a year earlier. Excluding Edenhall, which was acquired in December 2018, revenue grew by 3%.
Marshalls said sales in the Public Sector & Commercial end market, were up 15% compared with the prior year.
Meanwhile, sales in the Domestic end market were flat compared with 2018, but still ahead of the overall Domestic market in 2019, which suffered from the "poor" weather, Marshalls explained.
Looking ahead, the FTSE 250-listed company confirmed that it is confident of meeting its 2019 expectations. Marshalls also noted that the outcome of the UK general election in December has created a more certain political environment.
The company said it will publish its 2019 results on March 12.
Marshalls shares were trading 0.3% lower in London on Thursday morning at 828.73 pence each.
By Evelina Grecenko; [email protected]
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