Marshalls profit drops 17%

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Date: Friday 29 Aug 2008

LONDON (ShareCast) - Landscape products group Marshalls said posted a 17.1% drop in half year pre-tax profit amid more challenging market conditions.

Pre-tax profit fell to £22.7m for the half-year ended 30 June 2008 compared with £27.4m the same time a year before. Sales rose to £211.1m from £209.9m.

"There will continue to be uncertainty in the short term in the Domestic market. Overall sales in July and August 2008 were 5% below 2007, however, we have taken decisive action to ensure that we emerge stronger when markets improve," Marshalls said in a company statement.

The group also expects to take a one-off full-year charge of £8m for the closures of its concrete plants in Cannock and Sawley.

The interim dividend remains unchanged at 4.55p per share.

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