Marshalls, the manufacturer of natural stone and concrete landscaping products, reports group revenue up 8% to £430m for the year to end of December 2017.
Group revenue includes £9m from CPM Group, which was acquired in October 2017 and has traded strongly since. On a like-for-like basis, excluding the impact of CPM, group revenue was up 6%.
Sales in the domestic end market, which represented approximately 32% of group sales, were up 12% compared with the prior year period.
Excluding CPM, sales in the Public Sector and Commercial end market, (which represented approximately 61% of group sales), were up 2 % compared with 2016.
Targeting growth markets
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 the group’s expectations.
The company said progress made on both the 2020 Strategy and with CPM has allowed it to improve the level of sustainable operating margins.
The Board confirms it is confident of meeting its 2017 expectations.