Marshalls Regulatory News (MSLH)

6 Jul 2007 07:00

Marshalls PLC06 July 2007 Trading Statement: Six Months to 30 June 2007 Marshalls plc, the specialist Landscape Products Group, is providing thefollowing trading update for the six months to 30 June 2007. Trading Performance Marshalls' revenue from continuing operations in the six months to 30 June 2007was £210 million (2006: £198 million), an increase of 6 per cent, and included£4 million from acquisitions. Revenue from continuing operations, on a like forlike basis, was up 4 per cent. Like for like sales to the Public Sector and Commercial market, which representhalf of Group revenues, were 6 per cent ahead of 2006. There continues to begood demand in this market. Like for like sales to the Domestic market, also representing half of Grouprevenues, were 3 per cent up on the prior year. The most recent survey ofdomestic installers' average order books was 9.7 weeks compared with 9.5 weeksat the same time in the previous year. Group Developments Development of the business has continued during the half year with aninvestment of £11 million in three bolt-on acquisitions in addition tocontinuing and development capital expenditure. In terms of acquisitions, we have increased the geographical coverage of ouraggregates business with an acquisition in South West England. We have expandedour street furniture product offer with the addition of Ollerton which producesa range of high quality and widely specified seating systems. We have alsoexpanded our market leading natural and reconstituted stone walling offerthrough an acquisition which will increase our geographical coverage of wallingproducts into Scotland. We have increased consented aggregate reserves by 13.8 million tonnes, including7.0 million tonnes through acquisitions, and increased consented block stonereserves, for walling and paving, by 5.0 million tonnes through acquisitions. Our investments in organic developments include the expansion of our PremierMortars business which supplies ready to use mortar for the housing andcommercial building markets. We have also continued the development of a sandand gravel deposit close to Manchester which will commence operations in thefourth quarter of this year. We are also opening our showpiece Drive & Garden Transformation Centre inEnfield, North London, bringing the number of Centres to four. We plan to opensix more Centres in the second half of the year. Further progress has been made with the sale of surplus property. This isexpected to contribute profits in the first half sufficient to cover the one-offrevenue costs associated with the above developments and the continuing consumerinitiative start up costs. Our sponsorship of the Royal Horticultural Society's Chelsea Flower Show in Maywas very successful and received a daily average of 3.8 million televisionviewers, through the BBC's coverage, with Marshalls receiving full verbal andvisual credits throughout the programming. It provided an opportunity toshowcase our sustainability, both social and environmental, and to demonstrateour economic credentials. The Show enabled us to promote the brand and provideda platform for the launch of our National Garden Design and InstallationService. The interim results of the Group will be announced on Friday 7 September 2007. Graham Holden, Chief Executive, commented: "The first five months were busy with good momentum in both the Domestic and thePublic Sector and Commercial markets. Weather conditions in June have held backsales during this important month, however, underlying demand remains good inboth markets and our order books are encouraging. We are also continuing to invest in our medium to long term development plansand we have made further encouraging progress during this period." Enquiries:Graham Holden Chief Executive Marshalls plc 01484 438900Ian Burrell Finance Director Marshalls plc 01484 438900 Jon Coles Brunswick Group 0207 404 5959Kate Miller Brunswick Group 0207 404 5959 Note to the Editor: About Marshalls Established in the late 1880s, Marshalls is the UK's leading manufacturer ofsuperior natural stone and innovative concrete hard landscaping products,supplying the construction, home improvement and landscape markets. Marshallsprovides the product ranges, design services, technical expertise, innovativeideas and inspiration to transform gardens, drives and public and commerciallandscapes. Marshalls operates from 12 regional manufacturing and distribution centres andalso from an increasing number of Drive & Garden Transformation Centresthroughout the UK. Marshalls also operates an increasing number of quarries.Marshalls is committed to quality, including environmental best practice andcontinual improvement in health and safety performance for the benefit of itsalmost 3,000 strong workforce. Marshalls is the official sponsor of the Royal Horticultural Society's ChelseaFlower Show and has recently launched its own National Garden Design andInstallation Service. 6 July 2007 This information is provided by RNS The company news service from the London Stock Exchange