Marshalls PLC (LON:MSLH), today released a trading update.
Group revenue for the four months ended 30 April 2019 was up 21 per cent at £180 million (2018: £149 million). Excluding the impact of Edenhall, which was acquired in December 2018, revenue was up 13 per cent.
Sales in the Public Sector and Commercial end market, which represented approximately 69 per cent of Group sales, were up 26 per cent compared with the prior year period. The performance of Edenhall has been strong and the integration plan is progressing well.
Sales in the Domestic end market, which represented approximately 26 per cent of Group sales, were up 9 per cent compared with the prior year period. The survey of domestic installers at the end of April 2019 revealed order books of 10.8 weeks (2018: 10.9 weeks) compared with 10.0 weeks at the end of February 2019.
Recent trading has been strong and underlying indicators in the New Build Housing, Road, Rail and Water Management markets remain supportive to our growth strategy and plans. The Group continues to outperform the Construction Products Association’s (“CPA”) growth figures and the Board is increasingly encouraged regarding the Group’s performance for this financial year.
The Group’s focus remains the delivery of long-term sustainable growth, whilst maintaining a strong balance sheet and a flexible capital structure.