12th Nov 2020 11:06
(Alliance News) - Marshalls PLC on Thursday said it has reached prior year levels of trading with October sales even surpassing the year before.
The FTSE 250-listed manufacturer of natural stone and concrete hard landscaping products said sales for the four months ended October 31 were flat to the year prior on a like-for-like basis.
The Elland, England-based company's sales in October were up 5% on the year before.
"The key drivers of this growth have been continued strong demand in the domestic end market, a return to more normal levels of trading in the public sector and commercial end market and continued strong growth in the International market," Marshalls said.
Marshalls continues to target those parts of the market where higher levels of growth are anticipated, including infrastructure projects in road, rail & water management, the company said.
Going forward, Marshalls said: "Trading continues to improve and order books are robust. Although market demand remains uncertain, we remain focused on developing future growth opportunities and delivering the strategic objectives in our 5 year Strategy. Our strategy is underpinned by strong market positions, focused investment plans and an established brand."
Marshalls plans to up its expectations for the 2021 financial year following the stellar performance.
Marshalls shares were up 3.0% at 793.50 pence each in London on Thursday morning.
By Greg Roxburgh; [email protected]
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