29May2024

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Marshalls' Profit Rises 32% Pretax

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Marshalls, the landscaping material manufacturer, announced its full-year results today with profit before tax up 32%. Although the Construction Products Association forecasts an overall reduction in volumes for 2012, Marshalls says it is best place to respond once market conditions improve.

Marshalls do however remain cautious and warn that there will be a drop in public sector demand as current projects come to an end.

Highlights

  • · Revenue from continuing operations up 8.2 per cent
  • · EBITDA from continuing operations up 9.7 per cent helped by a small improvement in margins
  • · Operating profit from continuing operations up 28.6 per cent at £16.7 million, including a net gain on asset and property disposals of £1.4 million
  • · Profit before tax from continuing operations of £13.7 million, up 31.7 per cent
  • · Basic EPS on continuing operations up 49.6 per cent to 6.30 pence
  • · Final dividend recommended of 3.50 pence per share
  • · Dividends maintained at 5.25 pence with comfortable cash cover
  • · Net debt at £77.1 million with the increase on prior year reflecting the selected investment in growth initiatives

Commenting on these results, Graham Holden, Chief Executive, said:

"Marshalls has performed well in a tough environment, benefitting from our broad Domestic, Commercial and Public Sector customer base and our strong brand. Our commitment to innovation and appealing products and the development of our International activities has further boosted our performance. Marshalls continues to be well placed to outperform the market in the short term and to benefit more strongly from operational gearing, once market conditions improve."

Source: Landscape Juice - Marshalls' Profit Rises 32% Pretax