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Trading statements

Marshalls encouraged about its overall FY performance

10 May 2017 07:17

Marshalls said group sales and order intake have continued to be strong in the first four months of 2017 and that directors are increasingly encouraged regarding its performance for the current year overall.

"The Construction Products Association's (CPA) recent Spring Forecast predicts growth in UK market volumes of 1.3% in 2017, which represents a slight improvement on their Winter Forecast," the company said.

"Group sales and order intake have continued to be strong in the first 4 months of 2017 such that the Board is now increasingly encouraged regarding the Group's performance for the current year overall," it said.

Directors believed Marshalls' innovative product range and strong market positions would continue to support the growth objectives of the 2020 Strategy.

They further believed the group was well placed to drive through further sustainable improvements in operational efficiency.

Group revenue for the four months ended 30 April 2017 was up 6% at £135m, from £127m, with the underlying indicators remaining strong in Marshalls' end markets. The Group's positive cash generation has continued.

The group continued to deliver strong operational cash flows through the continuation of the tight control of inventory and effective management of working capital.

Net debt at 30 April 2017 was £19.1m, from £33.5m.

Story provided by StockMarketWire.com

Related Company: MSLH

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