Interim Management Statement

RNS Number : 8154V

Marshalls PLC

09 November 2010

 



Interim Management Statement

Current trading in line with expectations

Trading Performance

Marshalls' headline revenue for the ten months ended 31 October 2010 was £290 million (2009: £277 million).

Group like for like sales were 5 per cent ahead of the prior year with sales to the Public Sector and Commercial end market being up 7 per cent and sales to the Domestic end market being up 3 per cent.  The achievement of these additional sales reflects the success of continuing investment in merchandising and distribution initiatives for customers and installers.  Despite increased fuel costs and a slightly lower margin product mix we expect trading to be in line with expectations.

The survey of domestic installer order books at the end of September 2010 showed 8.6 weeks (2009: 8.1 weeks) compared with 9.1 weeks at the end of June 2010.

Dividend

The 2010 interim dividend of 1.75 pence per share, announced on 27 August 2010, is being paid on 3 December 2010 to shareholders that were registered at the close of business on 29 October 2010.

Outlook

The short term outlook for the remainder of this year shows good order books and a positive order flow as our marketing and sales initiatives deliver encouraging results.  Our Public Sector and Commercial lead indicator shows a mildly positive outlook for future hard landscaping demand.  There remains an uncertainty over the impact of the recent Comprehensive Spending Review and how this will affect consumer and business confidence.  However, the flexibility that we have built into the operating model means that we are well placed to respond to changing market conditions and to benefit when demand improves. Selective investment in new products and new markets remains a key priority and we continue to build on the strong Marshalls brand and its market leading position.

Enquiries:

Graham Holden	Chief Executive	Marshalls plc	01484 438900
Ian Burrell	Finance Director	Marshalls plc	01484 438900
Jon Coles		Brunswick Group	0207 404 5959
Kate Miller		Brunswick Group	0207 404 5959

 

9 November 2010

Note to the Editor:

About Marshalls:

Established in the late 1880s, Marshalls is the UK's leading manufacturer of superior natural stone and innovative concrete hard landscaping products, supplying the construction, home improvement and landscape markets.  Marshalls provides the product ranges, design services, technical expertise, innovative ideas and inspiration to transform gardens, drives and public and commercial landscapes.

Marshalls operates its own quarries and manufacturing sites throughout the UK, including a network of regional service centres and 2 National manufacturing and distribution sites.  As a major plc, Marshalls is committed to quality in everything it does, including environmental and ethical best practice and continual improvement in health and safety performance.

Forward-Looking Statements:

Any statements in this release, to the extent that they are forward-looking, are subject to risk factors associated with, amongst other things, the economic and business circumstances occurring from time to time in the markets in which Marshalls operates.  It is believed that the expectations reflected in these statements are reasonable but they may be affected by a wide range of variables which could cause actual results to differ materially from those currently anticipated.  More information about the factors that may affect Marshalls' performance is contained in the Annual Report to shareholders for the year ended 31 December 2009.

 

END

 

 

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