Construction News

Fri March 29 2024

Related Information

Marshalls sees profits grow

26 Mar 14 Paving block producer Marshalls has reported a 40% jump in pre-tax profits for last year.

Marshalls made £13.0m before tax in 2013 (2012: £9.3m) on revenue up 2% to £307.4m (2012: £300.9m).

The second half of the year was much better than the first. At the halfway mark, sales were down 4% on the previous year. The second half was up 9%.

Sales to international markets increased by £3m during the year to £16.5m.

Growth areas for the company include stone cladding – Marshalls is supplying stone for a major new office building in the City of London. Commercial work from rail and new house building is also increasing, albeit from low levels. Water management is also a focus area and in September 2013 Marshalls launched a new range of linear drainage products.

Chief executive Martyn Coffey said: "The action Marshalls has taken over recent years to reduce its cost base and debt whilst maintaining operational flexibility, combined with a range of growth initiatives, means the business is well positioned to take full advantage of the improving market conditions. In addition, there are further opportunities to refocus the business, establish rigorous targets and set a clear growth objective for the years ahead.

“Sales in January and February 2014 are up 18% against very weak weather affected comparatives.  Marshalls is increasing output to meet growing demand and deliver benefits from operational gearing. The medium term objective is for the group to return to the revenue and profit levels that were achieved by Marshalls before the recession."

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view latest construction news »