Full year profits bloom at Marshalls as recovery continues
Landscape products group Marshalls has posted a 57% rise in full year pre-tax profits to £35.3m on the back of an 8% jump in revenue to £386.2m as the company completed the first phase of its plans to return to profits.
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Operating profit was £37.5m, up from £25.3m, while underlying profits increased by 34.6% to £52m.
The company said sales to International markets increased by 2.6% per cent in local currency. However, once translated into sterling, sales reduced to £19m compared with £20m in 2014.
"Given trading conditions, which continue to be difficult in Europe, this represents a good performance and, pleasingly, the Belgium business has moved into profit," Marshalls said.
Martyn Coffey, chief executive, said, trading conditions remained positive and the group continued to experience positive order intake and sales growth across the business.
"Whilst there remain political and economic uncertainties, the outlook remains good...2016 has started well with order intake up 6% against strong comparators and the group is well placed to build on the strong momentum generated in 2015 as we continue to see the combined benefits of Marshalls' operational gearing and the group's growth strategy."