Marshalls confident over 2016 expectations

Landscape products group Marshalls said on Friday that it is confident of meeting its expectations for 2016 as it reported a rise in revenue for the 11 months to 30 November.

Revenue grew 3% to £375m, with sales in the domestic end market, which represent around 31% of group sales, up 10% compared with the prior year period.

Marshalls said UK revenue since the half year is up 4% compared with 2015 and was particularly strong in the domestic end market, where sales in the five months to the end of November were 15% higher.

The company said sales to the public sector and commercial end market now represent approximately 64% of its revenue. Commercial sales are broadly in line with the prior year and Marshalls said that based on public indicators, it believes it can continue to outperform its peers and gain market share.

“The board is confident of meeting its 2016 expectations. Alongside this, the underlying indicators have remained positive in Marshalls' main end markets while order intake and revenue growth remains robust and the positive cash generation reported at the half year has continued.

“Management continue to selectively identify and monitor bolt-on acquisitions in line with our 2020 Strategy. These will only be made if they meet our robust appraisal criteria.”