Marshalls' outlook positive despite Brexit vote

Hard landscaping supply company Marshalls reported revenue for the six months ending 30 June was up 2 per cent at £202 million.

Marshalls confident in hard landscape outlook. Image: HW
Marshalls confident in hard landscape outlook. Image: HW

This reflects a stronger sales performance in May and June compared with the first four months of the year, the company said. UK revenue in these two months was 5 per cent up compared with 2015.

The revenue improvement in May and June was particularly strong in the domestic end market where year on year growth was 12 per cent. Sales in the domestic market represented approximately 32 per cent of Marshalls' sales in the 6 months ended 30 June 2016.

A survey of domestic installers at the end of June found order books remaining strong at 11.7 weeks, compared to 12 weeks in June 2015 and 12.4 weeks at the end of April 2016.

Sales in the public sector and commercial end market also picked up over the last twp months and were 2 per cent ahead of the prior year period.

Despite the potential uncertainty following the EU referendum, the underlying indicators remain positive, the company said in a statement.

"Marshalls continues to be well placed to deliver the growth initiatives set out in the 2020 strategy and continues to drive through sustainable cost reductions and improvements in operational efficiency," it said.

The company's half-yearly report will be issued on 26 August. This will include a further update of both trading performance and the outlook for the Group.

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