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Marshalls is flagging in the downturn
29.08.08
Landscape and paving products group Marshalls' profits have tumbled as uncertainty in the domestic market hit sales.
With local councils strapped for cash and consumers holding off on major DIY work, Marshalls has seen business suffer. It still managed to make £23 million in the six months to 30 June but that was down from £27 million a year earlier.
Chief executive Graham Holden said: "Marshalls has an experienced team which, in response to the difficult market environment, has moved swiftly to refocus the business and reduce the cost base."
The group is looking to conserve cash while expanding where possible. Holden says the group will benefit from being a trusted brand in difficult times. It expects to take a full-year one-off charge of £8 million related to the closure of two concrete plants in the Midlands. The interim dividend is held at 4.55p.
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It's a shame this Holden bloke has no respect what so ever for the workers at sawley site that was shut down the way these blokes were treated was appalling they were told just pack up work and go home.
- Paul, nottingham
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