Marshalls profit soars 221% as revenue tops £589m

Marshalls plc, the Elland, West Yorkshire-based stone and landscaping firm, said its 2021 adjusted profit before tax soared to £72.1 million, up 221% on 2020 and up 3% on 2019.

Revenue was £589.3 million, an increase of 26% on 2020 and 9% on 2019.

Proposed total dividend for the year is 14.3p.

Marshalls also announced the appointment of Simon Bourne to its board as chief operating officer from April 1.

Bourne joined the company in June 2015 as manufacturing director and was appointed group operations director in September 2017. 

Bourne holds responsibility for product manufacturing and operations across the Marshalls group.

Marshalls CEO Martyn Coffey said: “Trading remains strong and has continued to improve since the start of the year, notwithstanding ongoing supply chain challenges.

“At the end of February revenues were up 13 per cent and order volumes up 5 per cent compared to the same period in 2021.

“Despite the terrible situation in Ukraine and the current geo-geopolitical uncertainties that prevail, the outlook for the construction market remains positive. 

“This continues to be supported by strong forward indicators, particularly in our target markets in New Build Housing, Road, Rail and Water Management.

Our strong market positions, focused investment plans and established brand underpin the group’s business strategy.

“We remain confident that our strategy will continue to deliver profitable longterm growth and that we will be able to mitigate raw material shortages and cost inflation through the effective management of our supply chain.

Given the strength of recent and current trading the board’s expectations for the current year are now ahead of its previous view.”

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