Marshalls’ profits up despite £11m winter hit

Marshalls’ profits rose to £11.8m last year from £9.2m – despite lost revenue of £11m due to poor weather conditions at the start and end of the year.

Strong performance across the whole of 2010 saw revenues boosted by 3.7%. Sales to the public sector and commercial were up 6%, sales to domestic were up 1%.

The landscaping group said it overcame the winter hit because of a permanent reduction of its cost base.

Marshalls said it saw growth opportunities in the UK, but would look to build its activities in western Europe, the Middle East and Asia, particularly in natural stone paving, street furniture and water management.  

Graham Holden, chief executive, said: “Sales have started to turn up following the difficult trading conditions of the previous two years although market uncertainty remains. On balance, the outlook for the public sector and commercial end market is mildly positive.”

“The domestic end market showed modest growth in the second half of 2010 and installer order books at the end of February 2011 were an encouraging 7.2 weeks.”

The dividend declared for the year ended 31 December 2010 is 5.25 pence.