Paving firm Marshalls reports sales jump and eyes growth in London

The boss of paving firm Marshalls on Thursday predicted the group’s order book in London will swell as more Crossrail and pedestrianisation jobs come up.

Chief executive Martyn Coffey said: “We would expect to be a major supplier of landscaping products on any of the mooted projects to part-pedestrianise Oxford Street, plus we are supplying paving that will be needed outside some of the new Crossrail stations when they open.”

Coffey added: “There is a lot coming up that could be great for us in the capital.”

Marshalls’ sales rose 15% to £280.1 million in the six months to June 30, helped by demand from homeowners and the government for its products.

Pre-tax profits jumped 14% to £37.1 million and it expects to meet full-year profit forecasts of £68.4 million.

The dividend is up 18% to 4.7p. Shares in the FTSE 250 firm rose 7.5p to 622.5p.

Coffey said that trading since the period ended has “remained strong”.