Marshalls says outlook positive as H1 revenue rises

3rd Jul 2014 08:39

Paving stone and landscaping group Marshalls reported strong orders and sales in its major markets as it posted higher half-year revenue.The group said sales to the public sector and commercial markets, which make up close to two-thirds of its total sales, rose 19%.It is still targeting the faster-growing parts of the market where it expects higher growth levels, including rail, home, landscape water management and internal natural stone flooring.Sales to the domestic end market, which represent about a third of group sales, were up 4% compared with a year ago, reflecting stronger sales in the comparative second quarter of 2013.A survey of domestic installers at the end of June revealed continuing strong order books of 11.5 weeks against 10.2 weeks a year ago and 11.5 weeks at the end of April.It also reported positive progress in developing its international business, where revenue rose 44% in the six months to June 30th and which has now reached 6% of group sales.Group revenue from continuing operations for the six months to June 30th rose 15% to £180m.Marshalls said in a trading update: "Based on the group's forward indicators, the outlook remains positive in all major end markets."Shares rose 2p or 1.1% to 178.75p at 08:09 in London.PW