Shares of Marshalls plc, the Elland, West Yorkshire-based stone and landscaping firm, rose about 5% on Thursday after it announced half year results showing revenue of £298.1 million — up 42% against H1 of 2020 and up 6% against H1 of 2019.
Statutory profit before tax in the first half to June 30, 2021, was £38.9 million compared to a loss of £16 million in H1 of 2020 and a £37.1 million profit in H1 2019.
Marshalls CEO Martyn Coffey said: “Trading continues to improve and recent order intake has been good.
“The Construction Products Association’s recent summer forecast predicts year on year increases in UK market volumes of 13.7 per cent in 2021 and 6.3 per cent in 2022 and the group expects to meet or outperform the market.
“Market conditions remain supportive, despite certain supply chain challenges, which are leading to inflationary pressures across the sector.
“The underlying indicators in our main growth markets, including New Build Housing, Road, Rail and Water Management, remain positive.
“As a result, we remain confident that our strategy will deliver long-term profitable growth and that we are well positioned to cope with the temporary challenges associated with cost and material supply issues.
“Encouraged by the continuing strength in demand and the positive trading environment, the board is confident of making further progress and is accordingly raising its expectations for 2021 and 2022.”