StockMarketWire.com - Marshalls half year revenue is up 42%, driven by continued strong growth in domestic and international sales.

For the six months to the end of June, 2021, the specialist landscape product company saw revenues reach £298.1 million, up 42% on 2020 and 6% on 2019.

The company saw continued strong growth in Domestic, up 54% against 2020 and 17% on 2019. Public Sector and Commercial sales growth was up 40% against 2020 and up 1% against 2019.

The period also saw international sales growth of 11% when compared with 2020 and 27% on 2019.

Pre-tax profits were up 5% against 2019 for the period, while reported net debt was £52.4 million down from £98.9 million in 2020 and £97.7 million in 2019.

The company also announced an interim dividend of 4.70p.

Martyn Coffey, chief executive of Marshalls, said: 'Trading continues to improve and recent order intake has been good. The Construction Products Association's recent summer forecast predicts year on year increases in UK market volumes of 13.7 per cent in 2021 and 6.3 per cent in 2022 and the Group expects to meet or outperform the market.

'Market conditions remain supportive, despite certain supply chain challenges, which are leading to inflationary pressures across the sector. The underlying indicators in our main growth markets, including New Build Housing, Road, Rail and Water Management, remain positive. As a result, we remain confident that our strategy will deliver long-term profitable growth and that we are well positioned to cope with the temporary challenges associated with cost and material supply issues.'



Story provided by StockMarketWire.com