Marshalls, which produces stone and concrete for landscaping, has returned to pre-pandemic levels of revenue and profit.
The Yorkshire-based construction firm’s full year results for 2021 include revenue of almost £590m, a 25 per cent increase on 2020, and nearly £50m, more than for 2019, pre Covid.
Its EBITDA (earnings before interest, taxes, depreciation, and amortization) was more double 2020/21 at £107m, and this exceeds the 2019 figure of £103m.
Marshall’s operating profit was 180 per cent up on 2020, with expectations ahead of its board’s previous position, despite inflationary and supply chain concerns, as well as increasing costs for raw materials in part due to the war in Ukraine.
“At the end of February revenues were up 13 per cent and order volumes up 5 per cent compared to the same period in 2021. Despite the terrible situation in Ukraine and the current geo-geopolitical uncertainties that prevail, the outlook for the construction market remains positive”, said Martyn Coffey, Chief Executive.
“We remain confident that our strategy will continue to deliver profitable long‑term growth and that we will be able to mitigate raw material shortages and cost inflation through the effective management of our supply chain.”