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Marshalls' sales return to 2019 levels as domestic market bounces
StockMarketWire.com
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Paving and landscaping specialist Marshalls has reported that its like-for-like sales returned to 2019 levels in the four months to the end of October as Covid-19 restrictions were lifted.
Sales to the domestic end market were up 10% on a like-for-like basis compared with the prior year, the company said.
While sales in the public sector and commercial end market were 6% lower, Marshalls said this was a 'significant improvement' compared with the first six months of the year when sales were down 28%.
All its manufacturing sites are operational despite the UK lockdown in place this month, and the company has repaid the £9.4 million in government support it received through the furlough scheme.
The company's net debt at the end of October was £42.8 million, down from £53.9 million on 30 June 2020.
At 9:16am: (LON:MSLH) Marshalls PLC share price was +16p at 786.5p
Story provided by StockMarketWire.com
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