Landscaping products supplier's trading statement shows revenue to the end of 2009 was £312m
Sales were down 16% last year at landscaping products supplier Marshalls.
The company announced its results for the year to 31 December 2009 today, which showed that revenue for the year was £312m, down from £378m in 2008.
Taking into account three fewer working days in 2009 than in 2008, like for like daily sales revenue was down 16%.
Sales to the public sector and commercial market, which represent 58% of Marshalls' sales, were down more heavily, by 18% for the year.
Sales to the domestic market were down 13%, meanwhile.
Marshalls said in a statement today : “The group remains cautious about the short term outlook, especially given the latest industry forecasts for 2010, which continue to predict mid-single digit reductions in volume. “
Marshalls said in June it had closed factories and reduced working shifts in order to cut costs.
It also raided £4m through a right issue earlier in the year.
It said today: “Cash management has been a priority during 2009 and reductions in stock and capital expenditure have ensured that net debt at 31 December 2009 is slightly better than plan at approximately £69m.”
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