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Positive end to 2020 sees Marshalls reinstate dividend
StockMarketWire.com
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Marshalls has reinstated its dividends after a progressive growth in sales in the second half of 2020.
The company has recommended a final dividend of 4.30p as sales in the fourth quarter of 2020 ended ahead of the same period the year prior.
Full year revenues at the company, however, were down at the end of 2020 at £469.5 million when compared with £541.8 million in 2019.
According to the full year results statement, trading has started strongly in 2021 with sales at the end of February up 7% and orders up 12% on the same period in 2020.
Martyn Coffey, chief executive of Marshalls, said: 'The CPA's winter base case scenario predicts an increase in UK market volumes of 14.0 per cent in 2021 and 4.9 per cent in 2022. Despite wider market uncertainty, the underlying indicators in our main growth markets of New Build Housing, Road, Rail and Water Management remain positive.
'Although market demand remains uncertain, we remain focused on developing future growth opportunities and delivering the strategic objectives in our five-year strategy. Our strategy continues to be underpinned by strong market positions, focused investment plans and an established brand. Marshalls' liquidity is strong and will support our investment priorities going forward.'
Story provided by StockMarketWire.com
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