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Marshalls Plc Confident Of Achieving 2022 Expectations

Marshalls plc (MSLH), a manufacturer of products for the build environment, on Wednesday said its group revenue increased 7 percent in the first four months of its 2022 financial year and that it is confident of achieving its 2022 expectations.

Group revenue for the four months ended 30 April, increased to 201 million pounds despite record sales volumes recorded in March and April of 2021, owing mainly to price increases that were implemented in the beginning of 2022.

Public Sector and Commercial end market which accounts for 68 percent of group sales recorded a 14 percent growth in revenues. Revenue in the Domestic end market, which represents almost 26 per cent of group sales however declined 8 percent over the previous period. Sales in the international business increased by 3 percent during the period.

Marshalls completed the strategically important acquisition of Marley Group plc on 29 April 2022.

The Board is confident of achieving its 2022 expectations, which have been increased to include a material contribution from the acquisition of Marley.

Shares of Marshalls plc closed Tuesday's trading at 589 pounds, up 11.50 pounds or 1.99 percent from the previous close.

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