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Marshalls' sales drop 9.7%

Published: 17 November 2008
Landscaping company blames ‘poor summer weather’ and weak demand as like-for-like revenue falls to £128m.
Marshalls' sales drop 9.7%
Marshalls' Group revenue for the four months to October 31 was down 9.7% on £141m for the same period last year.

Sales to the domestic market saw a 15% decline, with sales to the public and commercial sector, which represent around 58% of Marshalls' sales, also down 5% on last year.

The company said in its Interim Management Statement: "This reduction is the result of a number of factors, including the poor summer weather, tighter control of working capital by the distributors of our products and weaker demand in a number of our markets, particularly from mid-September onwards."

Revenue for the ten months ended October 31 was down 3.5% at £339m, compared with £351m in 2007. Sales to the domestic market fell by 13%, however sales to the public sector and commercial market were 4% ahead of 2007 figures.

The company added: "In an increasingly uncertain market we are focusing our sales effort on market sectors where activity is robust, accelerating cost reduction initiatives and conserving cash to retain flexibility through reduced capital expenditure and control of working capital."

In July Marshalls announced the closure of two of its concrete manufacturing operations at Cannock, Staffordshire and Sawley, South Derbyshire.


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