Marshalls’ revenue was up 3% in 2016 to £396.9m (2015: £386.2m). Profit before tax grew 31% to £46.0m (2015: £35.3m), with operating margins strengthening to 12.0% (2015: 9.7%).
Sales to the domestic end market, which represent 31% group sales, were up 10% for the year. Sales to the public sector and commercial end market, representing 64% of group sales, were broadly similar to 2015. International revenue grew by 2% in 2016 and represents approximately 5% of group sales.
Chief executive Martyn Coffey said: "The group has again delivered significant profit growth in 2016 with the underlying indicators remaining supportive in Marshalls' main end markets.
“Marshalls has a strong balance sheet and the group's innovative product range and strong market positions mean it is well placed to deliver continued growth and operational profit improvements as it implements its 2020 Strategy. Sales and order intake have been strong in the first couple of months of 2017."
He said that targeted bolt-on acquisitions remained a key part of the 2020 Strategy, specifically within target markets of water management, street furniture and minerals. “However, given current market uncertainty, our approach remains cautious,” he said.