Marshalls sees market demand stabilise

LANDSCAPE products specialist Marshalls said market demand has stabilised following the sever winter working conditions.

The Huddersfield company, which makes and supplies paving and street furniture to councils, businesses and homeowners across the UK, said revenue for the half year ended June 30 was in line with expectations at 170m, compared to 166m in 2009.

Like for like sales were two per cent ahead with sales to the public sector and commercial market three per cent ahead and domestic market sales flat.

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In a trading update, the firm said that the 2009 final dividend of 3.50 pence per share is being paid today to shareholders.

Marshalls said in a statement: "The current stabilisation in demand is encouraging but we remain cautious. Consumer and business confidence, together with levels of commercial and public spending investment plans, will determine the trajectory of future demand."

It added: "During the last two years Marshalls has built additional financial and operating flexibility into the business. We continue to invest selectively in new products to build on the strong Marshalls brand and market leading position. Marshalls is well positioned to respond to changing market conditions and to benefit from any improvement in market demand.

Marshalls will be announcing its results for the half year ended June 30 on August 27..

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