12th Mar 2020 09:34
(Alliance News) - Paving stones maker Marshalls PLC lifted its dividend for 2019, amid a double-digit rise in profit and revenue, through a strong contribution from recent acquisition Edenhall.
Pretax profit increased by 11% to GBP69.9 million from GBP62.9 million in 2018, on revenue that grew by 10% to GBP541.8 million from GBP491.0 million.
Marshalls said its revenue performance was driven by a rise in sales in the Public Sector & Commercial end market by 15% year-on-year, buoyed by brick maker Edenhall Holdings, which was acquired in December 2018.
There was 5% increase in International revenue, as Marshalls said it continued to develop opportunities by improving its global supply chains.
Marshalls declared a final dividend of 9.65 pence per share, bringing the total payout to 18.35p for 2019, up 15% from 16.00p the prior year.
Looking ahead, Marshalls said the underlying indicators in its key new-build housing, road, rail and water management markets remain supportive. The company said it is closely watching the Covid-19 situation, but to date has seen no discernable impact on the business.
"The group has delivered further growth in 2019 despite a period of market slowdown and economic and political uncertainty," said Chief Executive Marytn Coffey.
Shares in Marshalls were down 7.8% at 631.00 pence on Thursday in London.
By Dayo Laniyan; [email protected]
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