Firm completed 拢535m takeover of roofing firm last April

Its deal to buy roofing firm Marley last spring helped send Marshalls to a record financial result in 2022, the firm said today.

The concrete and stone manufacturer completed a 拢535m takeover of Marley last April.

In its 2022 results, Marshalls said revenue was up 22% to 拢719m with adjusted pre-tax profit up 23% to 拢90.4m.

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Marley specialises in roofing tiles and systems

Chief executive Martyn Coffey said: 鈥淭his performance demonstrates the benefit of the Group鈥檚 deliberate diversification strategy, illustrated by the acquisition of Marley.鈥�

The firm said it racked up 拢13m in restructuring costs last year which included redundancy payments of 拢3m. This and other adjusting items totalled 拢53m which took statutory pre-tax profit down to 拢37m, a fall of 46% on last time.

Marshalls said net debt at the year-end was 拢191m from a 拢100,000 net cash position at the end of 2021.

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