Stone manufacturer Marshalls released a strong set of results on Wednesday, pushing shares up nearly 4 percent in morning trading.
The company, who specialise in paving and hard landscaping products, recorded an 8 percent increase in group revenue for the year ended 31 December 2017 at £430 million. Sales in the Domestic end market, which accounts for around 32 per cent of group sales, were up 12 per cent compared to the previous period.
The figures include results from CPM Limited, which was acquired by Marshalls in October of last year, which contributed £9 million to the group revenue.
The group confirmed it would meet its 2017 expectations, saying in the trading statement that the group “has continued to deliver on the core aspects of the 2020 Strategy” during the year.
“Good progress has been made on the self-help capital investment programme, the development of new products and the Group’s digital strategy. These organic projects have been complemented by the acquisition of CPM with its planned integration on track with our expectations”, it concluded.
Shares in Marshalls (LON:MSLH) are currently trading up 3.18 percent at 461.20 (1202GMT).