5th Jul 2016 06:43
LONDON (Alliance News) - Marshalls PLC on Tuesday said its underlying indicators remain positive, notwithstanding the uncertainty caused by the result of the UK referendum on European Union membership, after revenue for the first half came in ahead of the same period a year earlier.
The concrete paving manufacturer said its revenue for the six months ended June 30 was GBP202.0 million, up 2.0% from the GBP199.0 million reported for the same period a year earlier, which reflects a stronger sales performance in May and June compared with the first four months of the year. UK revenue in May and June was up 5.0% compared with 2015 comparatives, Marshalls said.
The revenue improvement in May and June was "particularly strong in the domestic end market", Marshalls added, noting that, here, year-on-year growth was 12%. Sales into domestic end market - including, for example, sales to homeowners - represented around 32% of Marshalls's sales in the six months ended June. Marshalls said that, despite this improved sales performance, the survey of domestic installers, completed at the end of June, revealed order books remaining strong at 11.7 weeks, just slightly down from the 12 weeks posted a year earlier, and down from the 12.4 weeks at the end of April.
Sales in the Public Sector and Commercial end market also picked up over the last two months and were 2.0% ahead of the prior year period, Marshalls added.
The company said that the underlying indicators remain positive for the group, notwithstanding the uncertainty following the UK vote to leave the EU.
"Marshalls continues to be well placed to deliver the growth initiatives set out in the 2020 strategy and continues to drive through sustainable cost reductions and improvements in operational efficiency," the company added.
Marshalls will post its interim results on August 26.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Marshalls