News Column

Marshalls Interim Revenue Up 15%; Finance Director Burrell To Retire

July 3, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Marshalls PLC Thursday said revenues grew 15% in the first half of the year boosted by a strong order intake, and announced that Finance Director Ian Burrell will retire later this year.

The specialist landscape products group said sales rose 15% in the six months ended June 30 to GBP180 million, up from GBP157 million a year earlier, which it said was driven by an increase in sales to the public sector and commercial end-market, up 19% in the period. It said it continues to target faster growing parts of the market such as - rail, home and landscape water management - where it said higher levels of growth are expected.

Sales to the domestic end-market, which represents around 32% of overall sales for the group, were up 4%, while Marshalls' developing international business saw revenues increase 44%, now representing 6% of group sales.

Marshalls said it is seeing strong order intake and sales growth in its major end markets, and the outlook for the business remains positive.

"The group continues to increase output to meet growing demand and to deliver benefits from its operational gearing," the company said in its statement Thursday.

In a separate statement Thursday, the company said Burrell will retire in the autumn, after 13 years at the company.

It said it has appointed Jack Clarke as the new finance director, but he will not join the company before the end of 2014. Clarke is currently director of change management at AMEC PLC.

Marshalls said Burrell will remain with the group until June 2015.

The company said it will announced its half-year results on August 28.

Marshalls shares were up 2.4% at 181.00 pence before midday Thursday.

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Source: Alliance News

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