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17 Jun 2019 | 08:01

Fox Marble receives single largest order from existing customer in Kosovo

Fox Marble said it had received its largest single order for Illirico Selene marble from an existing customer in Kosovo. Fox Marble received an order for 1,850 tons of Illirico Selene from the Maleshevë quarry in Kosovo, an existing customer, and said that loading of the material had begun. Revenue from the order would only be recognised as the material is despatched from the quarry over the next few weeks, the company added. The order was notable because it consisted not only of the higher quality large blocks of stone but also large quantities of small and semi blocks which constitute a lesser grade of block. This had the additional effect of clearing out old stock extracted some years ago and freeing up space in the quarry to further extend the quarrying area and reach additional resources of good quality stone, the company said. 'Demand for Illirico Selene is high, with sales being constrained by our ability to extract sufficient quantities to sell into these growing markets and our success in selling our lesser grades of blocks is a consequence of this demand. As a result, we expect to see growth in our sales in 2019 and look forward to updating the market accordingly,' said Chris Gilbert, CEO.

At 8:01am: (LON:FOX) Fox Marble Holdings share price was +0.35p at 7.6p

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