Marshalls Share Discussion Threads

[thewheeliedealer] 23/11/2020 21:32

Hi all,

My mate Peter @Conkers3 and myself did a ‘Twin Petes Investing’ Podcast a few days ago and part of our discussion includes MSLH and I am very attracted to the Bricks/Paving subsector at the moment which looks well placed. We also chatted about loads of other Stocks and Ideas for research and did a particular bit about Luck vs Skill. We also discussed the outlook for Markets and as usual a fair bit of educational stuff with regards to Investing.

Anyway, if you use Apple, Audioboom, Overcast or Spotify you can find it under the 'Conkers Corner' Channel (you want Podcast TPI 36) and you can find it on Soundcloud at the link below. It is also now on Youtube.

I hope you enjoy it and find it useful,

Cheers, WD
@wheeliedealer

[lauders] 21/11/2020 06:16

Two new videos from MSLH on the same topic:





This is also positive:



Due to an improved outlook and stronger trading position than expected, we have repaid the £9.4m we received from the furlough scheme back to the government.

Martyn Coffey, Chief Executive of Marshalls plc, said:

“At Marshalls we aim to do the right things, for the right reasons, in the right way. It has always been our intention to pay back the furlough money if we were able, and I’m really pleased that we are in a position to do so.

This has been a tough year for everyone but we’re encouraged by the strong demand for our domestic products as well as a quicker than expected recovery in commercial and public sectors. As always we have put the health and safety of our people first and I am very proud of how they have risen to challenges and worked in different ways to support our customers and partners.”

[misca2] 15/11/2020 14:13

Outlook

Trading continues to improve and order books are robust. Although market demand remains uncertain, we remain focused on developing future growth opportunities and delivering the strategic objectives in our 5 year Strategy. Our strategy is underpinned by strong market positions, focused investment plans and an established brand.

Following the strength of recent trading the Board is improving its expectations for 2021.

[misca2] 15/11/2020 14:09

MIDAS SHARE TIPS UPDATE: Paving firm Marshalls builds for future

By Joanne Hart, Financial Mail on Sunday

Published: 21:51 GMT, 14 November 2020 | Updated: 21:51 GMT, 14 November 2020

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Marshalls exemplifies the type of plucky, smart-thinking British company that appeals to Schroders British Opportunities Trust.

Founded in the late 1900s, the group specialises in products for outdoor spaces, from garden paths and household drives to pavements, bollards and kerbs on the street.

A leader in its field, Marshalls is based in Elland, West Yorkshire, but operates across the country. Commercial projects include a new look for New Bond Street in London, public benches and even motorway drainage.
Paving the way: Founded in the late 1900s, Marshalls specialises in products for outdoor spaces, from garden paths to pavements, bollards and kerbs on the street
+1

Paving the way: Founded in the late 1900s, Marshalls specialises in products for outdoor spaces, from garden paths to pavements, bollards and kerbs on the street

Residential projects vary from helping to create new housing developments to natural stoneware for individual homes.

In early March, the company reported solid figures, a 15 per cent increase in the dividend and a special, one-off payment too. Then Covid-19 struck, the UK went into lockdown and construction came to a standstill. Staff were furloughed, chief executive Martin Coffey cancelled the final and special dividends and he took a 20 per cent pay cut alongside other board members. Profits plummeted over the spring and the shares sank.

Today, however, the picture is very different. Last week, Coffey reported that Marshalls has bounced back. In the four months to October 31, sales returned to 2019 levels and in October alone, revenues were 5 per cent higher than last year.

Growth has been particularly strong in the domestic market. Households, stuck at home for months, have embarked on refurbishment projects inside and out.

Marshalls has benefited as gardens and driveways have been upgraded and the group's order book now stretches well into next year. Construction work has been exempted from current lockdown restrictions so growth has continued apace in recent weeks.
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The company has repaid its furlough money and directors who took pay cuts have donated that money, equivalent to £120,000, to Macmillan Cancer Support and Mind, both charities that have been having a hard time raising money in recent months.

Coffey is hopeful that the company will exceed market forecasts in 2021 and a 2020 dividend may now be forthcoming too, payable next summer.

Brokers believe that sales and profits will be lower this year than last but they should recover over the next two years and beyond.

A dividend of 12p is forecast for 2021, rising to 18p in 2022, with continued growth expected thereafter.

Midas verdict: Midas first recommended Marshalls in 2013, when the shares were £1.24. Today, the stock is £7.95, having been almost £9 at the beginning of the year and slumped to little more than £5 by the spring. At current levels, the shares should continue to appreciate. Marshalls is highly regarded, well managed and should benefit as the UK seeks to rebuild and recover after the pandemic. A robust, long-term investment for existing and new investors.

Traded on: Main market Ticker: MSLH Contact: marshalls.co.uk or 01422 312000

[lozzer69] 12/11/2020 11:11

Good trading update and shares up 3pc this morning

[ygor705] 15/9/2020 17:30

Nigel B. Agree with your view and will be a danger for many well run companies that have been hit by Covid. The current situation is a total artifice and ripe for a cowboy takeover.

[nigelbarker] 15/9/2020 16:50

someone will take this opportunity and put them in play .just topped up in case

[ygor705] 15/9/2020 13:09

Breakeven on first half trading but turnover has picked up sharply in the second half, Covid reorganisation is complete and costs appear to have been taken out of the business. The market obviously won't like the numbers but they are historic and Marshals is a well run business. Will hold what I have and will be looking to top up at some point.

[ygor705] 11/9/2020 08:23

The share price has been a bit rudderless here even though the business background has arguably improved. HS2 is clearly important for Marshall's but that project is hardly at the station build stage as yet and other U.K. DIY must have been on an improving trend.

[lastoneout] 13/8/2020 22:55

Got my appointment at Specsavers booked. Half Year results 15th Sept of course

[lastoneout] 12/8/2020 15:29

Things warming up for Friday

[adrian j boris] 16/7/2020 10:44

Marshalls Marks Steady Increase In Revenue After Knock From Covid-19

Thu, 16th Jul 2020 10:29

Alliance News

(Alliance News) - Marshalls PLC on Thursday said its revenue took a knock in the first half of the year but marked a steady increase in June, continuing into July, as markets start recovering from the initial impact of Covid-19.

Marshalls revenue decreased by 25% year-on-year in the half year ended June 30 to GBP210.5 million from GBP280.1 million last year.

Trading in June was better than expected, the landscape products specialist said, with its revenue 2% ahead of last year. On a like-for-like basis, June average daily revenue was down 7% compared to the prior year period.

The West Yorkshire, England-based company said this was a significant improvement as April was down 66% on a like-for-like basis.

The improved level of trading continued into July as all manufacturing sites were operational and under new social distancing regulations.

Marshalls reported strong domestic sales with with the survey of domestic installers at the end of June showing a good order book of 12.4 weeks, compared to 11.5 weeks a year ago.

The public sector and commercial market showed "strong" sales, the company said, adding that a level of uncertainty remained within the housebuilding market, however.

Marshals said: "Whilst business confidence and market demand remain uncertain, recent trading has been better than expected and continues to improve.

"The board expects to be able to give a clearer outlook once the trading performance for both July and August have been assessed. In the interim, financial guidance remains suspended."

Shares were up 2.0% at 632.55 pence each on Thursday morning in London.

By Greg Roxburgh; [e-mail]

[waldron] 16/7/2020 09:01

Half Year Trading Update: 16 July 2020

Marshalls plc, the specialist landscape products group, issues a Trading Update and further information on its response to the COVID-19 outbreak, ahead of its half year results due to be announced on 15 September 2020.

[ariane] 16/7/2020 08:36

RNS Number : 1334T

Marshalls PLC

16 July 2020


LEI: 213800S21IFC367J5V62


Half Year Trading Update: 16 July 2020

Marshalls plc, the specialist landscape products group, issues a Trading Update and further information on its response to the COVID-19 outbreak, ahead of its half year results due to be announced on 15 September 2020.

Trading and operational performance

Our priority continues to be the safety and well-being of our employees, suppliers and customers and we aim to ensure that our health and safety practices are in line with recommended guidelines.

Revenue for the 6 months ended 30 June 2020 was GBP210.5 million (2019: GBP280.1 million) which represents a decrease of 25 per cent year on year. Trading in June was better than expected with revenue 2 per cent ahead of June 2019, with the benefit of 2 extra trading days. On a like for like basis the June average daily revenue was down 7 per cent compared to the prior year period. This is a significant improvement as April was 66 per cent down on a like for like basis. This improved level of trading has continued in the early part of July. All continuing manufacturing sites are now fully operational and have been reorganised to accommodate appropriate social distancing requirements without any loss of productivity.

Sales to the Domestic end market have been strong, with the survey of domestic installers at the end of June 2020 showing a healthy order book of 12.4 weeks (June 2019: 11.5 weeks; February 2020 9.7 weeks). In the Public Sector and Commercial end market, infrastructure sales remain strong although there remains some uncertainty within the housebuilding sector.

Balance sheet and liquidity

As at 30 June 2020, the Group had net debt of GBP53.9 million, on a pre-IFRS 16 basis (2019: GBP55.6 million). This is ahead of management's base case scenario and reflects the encouraging recent trading performance. We continue to monitor cash flows closely.

As a result of the recent improving trading levels, we have not been required to access our additional bank facilities or the Group's approved Covid Corporate Financing Facility ("CCFF") commercial paper programme. Marshalls' liquidity is strong and will support our investment priorities going forward. The Group has total bank facilities of GBP255 million, of which GBP230 million are committed, together with an issuer limit of GBP200 million under its CCFF facility.

Restructuring

We continue to take all appropriate steps to support the long-term interests of the business, its colleagues and other stakeholders. As previously announced, the Group entered into consultation with colleagues as part of a series of restructuring proposals, covering all parts of the business and including selective site closures. The restructuring programme is now substantially complete. The flexibility and improved efficiency of our plants means that capacity has not been materially reduced. The cost of the restructuring programme will be booked in the accounts for the 6 months to 30 June 2020.

Outlook

Whilst business confidence and market demand remain uncertain, recent trading has been better than expected and continues to improve. The restructuring programme and the new bank facilities have served to further strengthen the Group and ensure it is well placed both to manage the ongoing impact of COVID-19 and future growth opportunities. Our aim is to protect the long term sustainability of the business and to ensure that the Group remains focused on its strategic objectives.

Against this background the Board expects to be able to give a clearer outlook once the trading performance for both July and August have been assessed. In the interim, financial guidance remains suspended.

[ariane] 16/7/2020 08:34

Marshalls PLC MSLH Shore Capital Hold - - Reiterates


Marshalls PLC MSLH Peel Hunt Add 710.00 - Reiterates

[lauders] 28/6/2020 05:23

With the UK Government currently advising against the use of public transport, where possible, towns and cities are getting ready for an increase in pedestrians and cyclists. £2bn has been pledged to support local authorities, enabling them to provide safer cycling and walking routes in areas that currently have a high congestion of traffic and public transport.

Marshalls plc is the largest hard landscape supplier in the UK and we have provided products for domestic projects and large commercial schemes, such as Trafalgar Square, for over 130 years. With our expertise of transforming public spaces combined with our great mix of temporary and permanent ranges, we can help towns and cities adapt quickly and effectively to this demand for safer pedestrian routes.

From tactile paving and bollards, to kerbs and cycle storage, our products work together to provide a single solution to help re-allocate road space. With most of the changes needed imminently, we are proud to say that 94% of our commercial are manufactured in the UK, meaning we have a ready supply of most products and others can be delivered on short lead times.

[discodave4] 17/6/2020 12:00

Hopefully the positives here from C19 will eventually sink in:Https://www.forbes.com/sites/carltonreid/2020/06/13/uk-government-dangles-100-billion-for-green-recovery-infrastructure-deadline-june-18/

[discodave4] 04/6/2020 21:41

From today's Shares mag: 'Building materials group Marshalls (MSLH) also looks like it will come out the other side in a much stronger position than its smaller rivals. Peel Hunt says other hard landscaping businesses have struggled to keep pace with Marshalls' product and service development in the last five to 10 years and the crisis is likely to make it even tougher for them, allowing it to gain more market share'.

[ariane] 03/6/2020 13:16

30 June
2020
Next Interim Period End

[discodave4] 03/6/2020 13:13

I'm guessing that the trading updates from Ibstock and Forterra today have been seen as a positive read across to Marshall's (don't know haven't read them yet).

[waldron] 15/5/2020 07:07

Marshalls could make up to 400 staff redundant
Grant Prior 2 days ago
Share

Building materials giant Marshalls could make up to 400 staff redundant following a slump in sales.

The paving specialist issued a trading update to the city this morning outlining its strategy to cope with the covid-19 pandemic.

Restructuring proposals include “selective site closures, changes in shift patterns and proposed changes to the size of and structure of support functions.”

The moves could impact 400 staff – accounting for 15% of Marshalls’ workforce.

Marshalls is reopening factories as demand returns after sales in the first four months through to 30 April were down 27% at £131m from £180m last year.

The statement added: “In the early part of May we have seen daily levels of activity progressively improve and we are currently at circa 50% of our daily revenues compared to the same period in 2019.”

Marshalls has agreed an extra £90m credit facility with its bankers and is eligible for the Covid Corporate Financing Facility programme with an issuer limit of £200m.

It has also furloughed staff and deferred tax payments.

Marshalls said: “The combined effect of the cost reductions, the restructuring programme and the new bank facilities will leave the Group stronger and well placed to meet the current challenges and also well positioned for eventual future opportunities.”;

Grant Prior

Written by Grant Prior
2 days ago

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[waldron] 13/5/2020 09:14

Marshalls says 400 jobs under threat in Covid-19 restructure

Wed, 13th May 2020 07:50
ShareCast

(Sharecast News) - Concrete and landscaping specialist Marshalls said up to 400 jobs could be hit by the impact of the coronavirus pandemic as it looked to restructure operations with some site closures.
The company on Wednesday said sales in the four months to April 30 fell 27% to ?131m with activity taking a "steep drop" in the last week of March and throughout Apri as government lockdown measures were imposed with all non-essential businesses shut and most construction suspended.

"However, In the early part of May we have seen daily levels of activity progressively improve and we are currently at circa 50 per cent of our daily revenues compared to the same period in 2019," Marshalls said.

Marshalls said it had started talks with employees across the group as part of a series of restructuring proposals that cover all parts the business.

The plans include selective site closures, changes in shift patterns and proposed changes to the size of and structure of support functions.

"There are potentially up to 400 positions representing 15% of the ... workforce, that may be impacted as a result of these proposed changes," the company said.

It added that it had now signed revolving one-year credit agreements worth a total of ?90m with NatWest, Lloyds and HSBC banks with a 12-month extension option. Marshalls now has total bank facilities of ?255m of which ?230m is committed. Group debt at April 30 was ?69m.

Marshalls was also confirmed as eligible for the Bank of England's Covid Corporate Financing Facility with an issuer limit of ?200m.

[waldron] 13/5/2020 09:12

Oliver Haill

08:40 Wed 13 May 2020


Marshalls plans jobs cuts after sales hit by coronavirus

“We are reopening our plants as demand returns,” the paving slabs maker said
Marshalls -

Marshalls PLC (LON:MSLH) may cut up to 400 jobs permanently as part of a restructuring after sales of its paving slabs fell 27% in the first four months of the year due to the coronavirus crisis.

The proposed closure of certain sites, changes in shift patterns and proposed changes to the size of and structure of support functions require around 15% less of the total workforce, it said.

Directors have agreed a 20% reduction in remuneration, with a 15% cut for senior managers and government tax and furlough schemes also being used.

“We are reopening our plants as demand returns,” the FTSE 250 group said in a statement ahead of its annual meeting. “The nature of the concrete manufacturing process means our facilities have low re-start time and cost requirements.

“This flexibility and our improved efficiency means that capacity will not be materially reduced by the proposed changes and we will continue to satisfy our customers' requirements.”

Sales saw a steep drop in the last week of March and throughout April, Marshalls said, though things have progressively improved in May to a current level around 50% of daily revenues seen this time last year.

As flagged last month, agreements have been signed with three banks for a combined £90mln 12-month revolving credit facility, with a 12-month extension option, giving the group total bank facilities of £255mln.

“The combined effect of the cost reductions, the restructuring programme and the new bank facilities will leave the group stronger and well placed to meet the current challenges and also well positioned for eventual future opportunities,”; the statement said.

Shares in the company were down 2% to 608p in early trading on Wednesday.

Proactiveinvestors

[waldron] 13/5/2020 09:08

Outlook

Our operational planning continues to be dynamic and capable of reacting to the changing environment. We are closely monitoring cash flows to ensure that the business is in a strong position for eventual recovery. Our priority is to ensure the health and safety of our employees, and consequently detailed additional safety standards and procedures have been put in place, which are in line with current Government COVID-19 guidance, to allow our sites to operate safely. We will meet the demands of our stakeholders and protect the long term sustainability of the business.

The combined effect of the cost reductions, the restructuring programme and the new bank facilities will leave the Group stronger and well placed to meet the current challenges and also well positioned for eventual future opportunities.

At this time, it does not remain possible for the Group to provide an accurate assessment of trading for the current year and accordingly all previous market guidance continues to be withdrawn.

[waldron] 13/5/2020 09:07

Marshalls PLC MSLH Peel Hunt Add 710.00 - Reiterates

Marshalls PLC MSLH Shore Capital Under Review - Under Review