Building suppliers Marshalls reports strong revenue and profit growth in 2015

Marshalls plc, the Elland-based specialist Landscape Products Group, has reported strong growth in its full year results for the year ending 31 December 2015.

Marshalls saw an 8% in revenue to £386.2m, up from £358.5m at the same period last night.

In the Public Sector and Commercial end market, revenue increased by 10.8% compared with 2014 and now represents approximately 66% of Group sales. In the Domestic end market, revenue increased by 3.6% year on year and now represents approximately 29% of Group sales.

Marshalls also reported a strong profit before tax growth of 57% to £35.3m (2014: £22.4m)

Although sales to International markets increased by 2.6% in local currency, the impact of exchange rate movements is such that, once translated into Sterling, sales reduced to £19m (2014: £20m).

Operating profit was £37.5m (2014: £25.3m) which represents an increase of 48%. EBITDA increased by 34.6% to £51.8m (2014: £38.5m) and basic EPS was 14.32p (2014: 10.13p), an increase of 41%.

Martyn Coffey, Chief Executive, said: “This has been another good year for Marshalls with significant revenue and profit growth delivered in 2015. This has been matched by a strong cash performance resulting in the increased dividend for this year. Trading conditions remain positive and the Group continues to experience positive order intake and sales growth across the business.

“Whilst there remain political and economic uncertainties, the outlook remains good with the CPA’s current forecast for construction output standing at 3.6% growth in 2016 and growth of 4.1%, 4.2% and 4% respectively in the following 3 years.

“I am pleased to report that 2016 has started well with order intake up 6% against strong comparators and the Group is well placed to build on the strong momentum generated in 2015 as we continue to see the combined benefits of Marshalls’ operational gearing and the Group’s growth strategy.”

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