Marshalls holds on to Olympic hopes after suffering £4.5m pre-tax loss

Chelsea Flower Show sponsor Marshalls made a £4.5 million pre-tax loss in 2008 but still hopes to win Olympic 2012 supply contracts.

Revenue for the landscaping materials supplier fell 6% to £378.1 million last year.

Marshalls chief executive Graham Holden said: "Low consumer confidence continues to impact the domestic market."

However Holden added that there was evidence of "early opportunities offered by the London 2012 Olympics". Marshalls has recently cut costs and closed two concrete plants as well as reining back on garden centre outlets.

Marshalls' public sector and commercial arm, which accounts for 60% of business, did better than its driveways, patios private homes business as customers opted for home improvements rather than buying new houses.

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