Marshalls PLC said Thursday that revenue rose 22% in 2022 on the back of acquiring Marley Group, and it sees adjusted pretax profit meeting market views.
The specialist landscape products company said revenue rose to 719 million pounds ($887.8 million) from GBP589 million in the prior year, which included the benefit of the Marley acquisition in April. On a like-for-like basis, group revenue growth was 1%.
Adjusted pretax profit is expected to meet market expectations, which it provided as being GBP90.4 million. Last year it reported an adjusted pretax profit of GBP72.1 million.
Marshalls Landscape Products experienced tough market conditions with revenue falling 7% to GBP394 million, though the rate of contraction moderated in the last quarter, the company said.
Marshalls Building Products performed robustly, despite some slowing of activity in the last quarter, with revenue rising 17% to GBP193 million.
Marley Roofing Products delivered GBP132 million in revenue over eight months of ownership, representing 6% growth compared with the corresponding 2021 period.
The company said it remains mindful of the uncertain macroeconomic environment, but is confident of making progress.
Marshalls will disclose full 2022 results on March 15.
Shares at 0824 GMT were down 1.2 pence, or 0.4%, at 313.4 pence.