Product group's results are in line with expectations despite flat building materials market
A flat DIY market has held back revenue growth at Landscape products group Marshalls.
In a trading statement Marshalls announced that revenue increased 5% to £378m for the year ended December 31 2006. On a like for like basis revenue only increased 3% to £369m, but Marshalls said 2006 profit was in line with expectations.
Marshalls said that robust demand in the installed sector had helped offset the weak growth in the domestic market. Like for like sales in the public sector and commercial sectors were up 5% while acquisitions contributed £9m to group revenue.
Marshalls said it would be investing in its three recent acquisitions during 2007. It has also secured the sponsorship of the Royal Horticultural Society's Chelsea Flower Show for three years commencing in 2007
Chief executive Graham Holden said: "'Marshalls is pleased to be announcing a robust relative sales performance given the flat building materials market.”