Landscape products provider Marshalls PLC (LON:MSLH) saw a slight pick-up in revenue growth in the second half of the year.
Revenue in the first 11 months of the year was up 3%, compared to 2% growth at the half-year stage, to £375mln from £365mln in the same period of 2015.
UK revenue since the half-year was up 4% year-on-year, and was particularly strong in the domestic end-market which, in the five months ended 30 November 2016, was up 15%, the company said.
Shares dipped 1.8% to 311.3p, however, as the domestic order book showed signs of softening demand. The survey of domestic installers at the end of October 2016 revealed order books of 11.0 weeks, compared to 11.2 weeks at the same stage of last year and down from 11.7 weeks at the end of June 2016.
Sales to the Public Sector and Commercial end-market now represent around 64% of the group’s sales, up from 63% at the end of June.
“Commercial sales are broadly in line with the prior year. Based on public indicators we believe we continue to outperform our peers and gain market share,” Marshalls said.
With 11 months of the year gone, the board of Marshalls has gone out on a limb and ventured that it is confident of meeting its full-year expectations.
The underlying indicators have remained positive in Marshalls' main end markets while order intake and revenue growth remains robust and the positive cash generation reported at the half-year has continued, Marshalls said.