Group revenue for the year ended 31 December 2017 was up 8 per cent at £430 million (2016: £397 million). Group revenue includes £9 million from CPM Group Limited (“CPM”), which was acquired on 19 October 2017 and has traded strongly since joining the Group. On a like for like basis, excluding the impact of CPM, Group revenue was up 6 per cent.
Sales in the Domestic end market, which represented approximately 32 per cent of Group sales, were up 12 per cent compared with the prior year period. The survey of domestic installers at the end of October 2017 revealed order books of 11.7 weeks (2016: 11.0 weeks) which compared with 11.9 weeks at the end of June 2017.
Excluding CPM, sales in the Public Sector and Commercial end market, which represented approximately 61 per cent of Group sales, were up 2 per cent compared with 2016. The Group continues to target those parts of the market where higher levels of growth are anticipated including Newbuild Housing, Water Management and Rail.
During the year, the Group has continued to deliver on the core aspects of the 2020 Strategy. Good progress has been made on the self-help capital investment programme, the development of new products and the Group's digital strategy. These organic projects have been complemented by the acquisition of CPM with its planned integration on track with our expectations. The progress made on both the 2020 Strategy and with CPM has allowed us to improve the level of our sustainable operating margins.
Capital discipline remains a key priority and the Group's positive cash generation has continued.
Dividend
The 2017 interim dividend of 3.40 pence per share, announced on 17 August 2017, was paid on 6 December 2017 to shareholders registered at the close of business on 20 October 2017.
Outlook
The Board confirms it is confident of meeting its 2017 expectations.
The Construction Products Association (“CPA”) reduced its 2018 forecast in the Autumn Update and this reflects wider economic uncertainty. To date the Group continues to outperform the CPA growth figures.
Marshalls' innovative product range and strong market positions will continue to support our growth objectives and operational profit improvements through the delivery of its 2020 Strategy.