Earnings before interest, taxes, depreciation, and amortisation (EBITDA) from continuing operations were up 9.7%, helped by a small improvement in margins. The 28.6%, or ££3.7m, rise in operating profit also included a net gain on asset and property disposals of £1.4m.
Profit before tax from continuing operations was £13.7m, up 31.7%. Net debt was £77.1m, with an increase on prior year reflecting the selected investment in growth initiatives.
"Marshalls has performed well in a tough environment, benefitting from our broad domestic, commercial and public sector customer base and our strong brand,” said chief executive Graham Holden. “Our commitment to innovation and appealing products and the development of our International activities has further boosted our performance. Marshalls continues to be well placed to outperform the market in the short term and to benefit more strongly from operational gearing, once market conditions improve."
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