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140.10 -1.60 (-1.13%)

Bid:

140.40

Ask:

141.00

Spread: 0.60 (0.427%)

Market Cap: £354.30m

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Marshalls performs in line

Fri, 02nd Jul 2010 07:28

Paving slab maker Marshalls has traded in line with expectations during the first half of 2010 and says current demand is “encouraging”, but it’s still unclear whether the firm will be hit by government spending cuts.The company, which makes a lot of money from selling street pavers and paving stones to the public sector, says headline revenue for the half-year ended 30 June rose to £170m from £166m last year.Like for like sales were up 2% as a 3% increase in the public sector and commercial end market made up for a flat domestic end market. Demand has stabilised following the severe winter working conditions, added the firm. “The current stabilisation in demand is encouraging but we remain cautious. Consumer and business confidence, together with levels of commercial and public spending investment plans, will determine the trajectory of future demand,” read a statement Friday.In 2009, the public sector and commercial end market, which made up about 58% of group revenue, saw sales fall 17.5%.Interim results are due on 27 August.