Marshalls first-half revenue up 15% to £280m

Elland, West Yorkshire-based landscaping products company Marshalls plc said on Thursday its revenue for the six months ended June 30, 2019, grew 15% to £280.1 million and profit before tax rose 14% to £37.1 million.

Marshalls said it will continue to focus on organic growth and investment — but will also continue to target selective bolt-on acquisition opportunities in new build housing, water management and minerals.

The firm declared an interim dividend of 4.70p per share, an increase of 18%, “which reflects the group’s strong cash generation.”

Marshalls CEO Martyn Coffey said: “The group continues to outperform the Construction Products Association’s (CPA) growth figures, despite ongoing political and Brexit uncertainty. 

“The CPA’s recent summer forecast predicts a decrease in UK market volumes of 0.3 per cent in 2019, followed by an increase of 1.0 per cent in 2020, while the underlying indicators in the New Build Housing, Road, Rail and Water Management markets remain supportive. 

“Post period-end trading has remained strong. 

“The board believes that the group’s new five-year business strategy will continue to deliver sustainable growth, whilst maintaining a strong balance sheet and a flexible capital structure.

“The strategy is underpinned by strong market positions, focused investment plans and an established brand. 

“The board is increasingly confident of at least achieving its expectations for 2019.”

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