Marshalls paves way to profit

Landscape products business Marshalls Plc saw a significant rise in profit last year as it improved operating margins.
Martyn Coffey CEO of Marshalls plc.Martyn Coffey CEO of Marshalls plc.
Martyn Coffey CEO of Marshalls plc.

Huddersfield-based Marshalls said revenue was up 3 per cent to £396.9m in the year ended 31 December 2016. The paving specialist reported a 31 per cent in pre-tax profits to £46m, up from £35.3m the previous year, driven by improved operating margins to 12 per cent.

Martyn Coffey, chief executive of Marshalls, said: “The group has again delivered significant profit growth in 2016 with the underlying indicators remaining supportive in Marshalls’ main end markets. The Construction Products Association’s recently published Winter Forecast reflected a slight improvement in medium term growth assumptions compared with the Autumn Forecast.

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“Marshalls has a strong balance sheet and the group’s innovative product range and strong market positions mean it is well placed to deliver continued growth and operational profit improvements as it implements its 2020 Strategy. Sales and order intake have been strong in the first couple of months of 2017.”

Its 202 Strategy aims to strengthen its brand, promote growth initiatives and prioritise organic capital investment. The company is also looking to commit further investment to research and development and focus on innovation and new product development to drive sales growth.

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