Marshalls to restore dividend after second half sales jump
Landscaping firm Marshalls this morning confirmed that it would reinstate its dividend after much improved trading in the second half.
After sales fell sharply in the first half, the company said that figures from recent months were ahead of 2019.
But group revenue fell from £542m to £469m for the full year on the back of the coronavirus pandemic.
For its domestic market sector, Marshalls said that sales were up nine per cent for the second half.
In the public and commercial division, sales over the same period were down six per cent.
However this represents a vast improvement from the first half of the year, when sales dropped 28 per cent.
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The FTSE 250 company said the payout programme would recommence with a final full year payment.
Marshall’s added that its debt pile stood at £19m, with around £20m in government coronavirus support already having been paid back.
Looking forward, it said: “Trading continues to improve and order books remain strong. The Board anticipates out-turns for 2020 and 2021 modestly above current expectations.
“We continue to monitor closely any risk to demand due to the worsening Covid situation in the first quarter. We are taking appropriate and timely measures to best mitigate any impact.”