Marshalls sees gains in turnover and pre-tax profit

Marshalls has made an "encouraging start" to the year with increases in pre-tax profit and turnover for the six months to 30 June 2003.

For the first half of the year, the specialist landscape, clay and natural stone products group reported a pre-tax profit of £29.1m - up 6.6% from £27.3m in the same period last year.

Group turnover rose by 1.3% to £183.6m against the 2002 first half figure of £181.3m.

There were also gains in the group's operating profit, which increased by 9.6% (excluding its flooring business) to £30.6m against a £29m figure for the same period last year.

Marshall's clay products division saw a dip in operating profit to £2m from £2.7m last year due to a shortage in the supply of certain raw materials.

However, the group's natural stone division cushioned the blow with a 32% increase in operating profit to £2.4m from £1.8m last year.

Marshall's executive chairman Christopher Burnett said the first half growth in sales and profit, in a period of low inflation, was "very encouraging".

"The second half has seen an encouraging start with continued sales growth. At this stage our market intelligence suggests that activity levels will remain positive," he said.