DJ Marshalls PLC Trading Update
Trading Performance
Marshalls’ revenue for the 6 months ended 30 June 2016 was up 2 per cent at GBP202 million (2015: GBP199 million). This reflects a stronger sales performance in May and June compared with the first 4 months of the year. UK revenue in these 2 months was 5 per cent up compared with the 2015 comparatives.
The revenue improvement in May and June was particularly strong in the Domestic end market where year on year growth was 12 per cent. Sales in the Domestic end market represented approximately 32 per cent of Marshalls’ sales in the 6 months ended 30 June 2016. Despite the improved sales performance, the survey of domestic installers at the end of June 2016 revealed order books remaining strong at 11.7 weeks (2015: 12.0 weeks). This compared with 12.4 weeks at the end of April 2016.
Sales in the Public Sector and Commercial end market also picked up over the last 2 months and were 2 per cent ahead of the prior year period. Sales in the Public Sector and Commercial end market represented approximately 63 per cent of Marshalls’ sales in the 6 months ended 30 June 2016.
Outlook
Notwithstanding the potential for uncertainty following the result of the EU Referendum, the underlying indicators remain positive. Marshalls continues to be well placed to deliver the growth initiatives set out in the 2020 Strategy and continues to drive through sustainable cost reductions and improvements in operational efficiency.
Marshalls will issue its Half-yearly Report on 26 August 2016. This will include a further update of both trading performance and the outlook for the Group.
Marshalls’ revenue for the 6 months ended 30 June 2016 was up 2 per cent at GBP202 million (2015: GBP199 million). This reflects a stronger sales performance in May and June compared with the first 4 months of the year. UK revenue in these 2 months was 5 per cent up compared with the 2015 comparatives.
The revenue improvement in May and June was particularly strong in the Domestic end market where year on year growth was 12 per cent. Sales in the Domestic end market represented approximately 32 per cent of Marshalls’ sales in the 6 months ended 30 June 2016. Despite the improved sales performance, the survey of domestic installers at the end of June 2016 revealed order books remaining strong at 11.7 weeks (2015: 12.0 weeks). This compared with 12.4 weeks at the end of April 2016.
Sales in the Public Sector and Commercial end market also picked up over the last 2 months and were 2 per cent ahead of the prior year period. Sales in the Public Sector and Commercial end market represented approximately 63 per cent of Marshalls’ sales in the 6 months ended 30 June 2016.
Outlook
Notwithstanding the potential for uncertainty following the result of the EU Referendum, the underlying indicators remain positive. Marshalls continues to be well placed to deliver the growth initiatives set out in the 2020 Strategy and continues to drive through sustainable cost reductions and improvements in operational efficiency.
Marshalls will issue its Half-yearly Report on 26 August 2016. This will include a further update of both trading performance and the outlook for the Group.