Marshalls Annual Revenue Up
For the full year of 2010, the company posted an operating profit of Â£11.77m, compared to Â£9.19m for the same period in 2009. Profit before tax was Â£9.21m, compared to loss before tax of Â£2.37m for the same period in 2009.
Financial expenses were Â£14.48m for the full year of 2010, compared to Â£22.51m for the same period in 2009. Financial income was Â£11.92m, compared to Â£10.94m for the same period in 2009.
The tax charge for 2010 was Â£1.9m (2009: Â£2.4m before works closure costs and the redemption of the debenture) which represented an effective rate of 20.2 per cent (2009: 20.1 per cent). This is due to tax credits from finalizing earlier years' computations.
Basic earnings per share were 3.76 pence per share (2009: reported loss of 0.42 pence per share; earnings of 5.38 pence per share before works closure costs and the redemption of the debenture).
Graham Holden, CEO of the company, said: â€œSales have started to turn up following the difficult trading conditions of the previous two years although market uncertainty remains. On balance, the outlook for the public sector and commercial end market is mildly positive.
â€œThe domestic end market showed modest growth in the second half of 2010 and installer order books at the end of February 2011 were an encouraging 7.2 weeks.â€
Will the firm further improve revenue in 2011?
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