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Marshalls PLC on Tuesday said that half-year revenue climbed following its acquisition of Marley Group PLC back in April.
The Elland, England-based landscaping products company said that revenue for the first six months of 2022 was up 17% to £348 million from £298 million the year before, which includes the benefit of the acquisition of Marley. On a like for like basis, revenue rose by 7%.
Back in April, Marshall agreed to buy the pitched roof system manufacturer for £535 million. The acquisition was completed later that month.
Marshalls said that Marley has traded ‘strongly’ in its first two full months of ownership and its integration into the group is progressing in line with its internal plans. At the time of the acquisition, the company said that it expected the acquisition to be double-digit earnings per share accretive in the first full year after completion.
It added that going forward it will report under three segments: Marshalls landscape products, Marshalls building products and Marley roofing products. This will be effective from the publication of its 2022 half year results on August 18.
Marshalls expects performance in 2022 to be in line with market expectations, it added.
Shares in Marshalls were down 0.4% to 449.80 pence each in London on Tuesday morning.
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