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Interim Results

Marshalls grows pre-tax profit by 16%

17 August 2017 07:33

Landscape products group Marshalls grew its profit before tax by 16% to £29.1 million in the first half, with revenue 8% higher at £219.1 million.

EBITDA increased by 13% to £36.7 million.

The return on capital employed for the 12 months ended 30 June 2017 increased by 19% (380 basis points) to 23.7%.

The company had net cash of £1.2 million, compared with net debt of £8.8 million the year before.

It increased the interim dividend by 17% to 3.4p.

Martyn Coffey, chief executive, said the group continues to outperform the Construction Products Association's growth figures and the underlying short to medium term market indicators remain supportive.

"The board believes that Marshalls' innovative product range and strong market positions will continue to support growth and operational profit improvements during the delivery of the 2020 Strategy and will drive future shareholder returns. The group's focus remains the delivery of the growth initiatives set out in the 2020 Strategy, whilst maintaining a strong balance sheet and a flexible capital structure. The board remains confident of achieving its expectations for 2017."

Story provided by StockMarketWire.com

Related Company: MSLH

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