results - LJN Blog Posts - Landscape Juice Network2024-03-29T14:00:22Zhttps://landscapejuicenetwork.com/profiles/blogs/feed/tag/resultsMarshalls sees slight softening in domestic order bookhttps://landscapejuicenetwork.com/profiles/blogs/marshalls-sees-slight-softening-in-domestic-order-book2016-12-09T15:55:14.000Z2016-12-09T15:55:14.000ZLandscape Juicehttps://landscapejuicenetwork.com/profil/LandscapeJuice<div><p>Landscape products provider <a href="http://www.proactiveinvestors.co.uk/LON:MSLH/Marshalls/" class="companyPopupTrigger" rel="3088">Marshalls</a> PLC (<a href="http://www.proactiveinvestors.co.uk/LON:MSLH/Marshalls/" class="companyPopupTrigger" rel="3088">LON:MSLH</a>) saw a slight pick-up in revenue growth in the second half of the year.</p>
<p>Revenue in the first 11 months of the year was up 3%, compared to 2% growth at the half-year stage, to £375mln from £365mln in the same period of 2015.</p>
<p>UK revenue since the half-year was up 4% year-on-year, and was particularly strong in the domestic end-market which, in the five months ended 30 November 2016, was up 15%, the company said.</p>
<p>Shares dipped 1.8% to 311.3p, however, as the domestic order book showed signs of softening demand. The survey of domestic installers at the end of October 2016 revealed order books of 11.0 weeks, compared to 11.2 weeks at the same stage of last year and down from 11.7 weeks at the end of June 2016.</p>
<p>http://www.proactiveinvestors.co.uk/companies/news/170231/marshalls-sees-slight-softening-in-domestic-order-book-170231.html</p>
</div>STIHL achieves new record turnover of EUR 3.25 billionhttps://landscapejuicenetwork.com/profiles/blogs/stihl-achieves-new-record-turnover-of-eur-3-25-billion2016-05-31T19:00:11.000Z2016-05-31T19:00:11.000ZLandscape Juicehttps://landscapejuicenetwork.com/profil/LandscapeJuice<div><div id="main_content">
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<p><span><a href="http://storage.ning.com/topology/rest/1.0/file/get/3314760208?profile=original" target="_self"><img width="300" src="http://storage.ning.com/topology/rest/1.0/file/get/3314760208?profile=RESIZE_320x320" width="300" class="align-right" /></a>"Last year the STIHL Group's turnover surpassed the 3 billion euro mark for the first time and by a considerable margin", said STIHL executive board chairman Dr. Bertram Kandziora at the company's financial press conference. Worldwide turnover in 2015 was up by 8.9 percent to EUR 3.25 billion. Without the effects of foreign exchange rates the increase would have been 3.7 percent. </span><br />
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<span>"In 2015 our sales subsidiaries in most countries again succeeded in gaining market shares and this enabled us to further consolidate our global competitive position", said Dr. Kandziora. "Worldwide investments in 2015 totalled EUR 235 million, which is higher than they have even been in the company's history. We are celebrating our company's 90th anniversary this year and are well prepared for further growth." All investments are equity-financed as a matter of principle. </span><br />
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<span>North America is growth engine</span><br />
<span>The situation in international markets was quite varied for STIHL in 2015. "North America was once again the growth engine with a double digit increase in unit sales. In the U.S., there were gains in market share in almost all product groups. STIHL also made significant progress in Latin America", explained Dr. Kandziora. Western Europe, including the southern European countries, also reported growth. </span><br />
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<span>By contrast, the chain saw market in Russia collapsed. The slump in the ruble's value, the teetering economy and the falling price of oil resulted in purchasing power being practically halved, so that the total sales of products in Russia dropped drastically. Overall, market shares were gained worlwide. An encouraging level of unit sales growth was achieved with VIKING products.</span><br />
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<span>Gains in market shares on German market</span><br />
<span>STIHL also achieved significant growth on the German market last year. "Business with cordless electric products and the VIKING iMow robot mower was particularly good in the first quarter of 2016", said a pleased Dr. Kandziora. </span><br />
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<span>The STIHL and VIKING Test Day, which took place for sixth time on April 9, 2016, is the traditional start to the season for dealers. The STIHL COMPACT cordless system further extends the line of cordless power tools. The new products will be available as from this summer. Further test opportunities for customers are scheduled as part of the "Super Saw Weeks" in autumn.</span><br />
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<span>Worldwide investments at all-time high</span><br />
<span>The STIHL Group's investments last year amounted to EUR 235 million – the highest they have ever been in the company's history. Of that total, the German founding company accounted for 37 percent and the subsidiaries at home and abroad for 63 percent. For example, ZAMA, a subsidiary of the STIHL Group, opened a new production facility in the Philippines in January 2016 which represented an investment of over EUR 40 million. Compared with investments, total depreciations amounted to EUR 149 million. The number of employees in the Group was down by 0.4 percent to a total of 14,245.</span></p>
<p><span>Read the Stihl statement in full: <a href="http://www.stihl.com/pi-stihl-achieves-new-record-turnover-of-eur-3-25-billion.aspx" target="_blank">http://www.stihl.com/pi-stihl-achieves-new-record-turnover-of-eur-3-25-billion.aspx</a></span></p>
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</div>Marshalls plc half year trading results for the period ended 30 June 2013https://landscapejuicenetwork.com/profiles/blogs/marshalls-plc-half-year-trading-results-for-the-period-ended-30-j2013-08-30T07:56:38.000Z2013-08-30T07:56:38.000ZLandscape Juicehttps://landscapejuicenetwork.com/profil/LandscapeJuice<div><p>Marshalls plc, the specialist Landscape Products Group, announces its half year trading results for the period ended 30 June 2013.</p>
<p><strong>Financial Highlights</strong></p>
<ul>
<li>Profit before tax up 15% to £8.0 million (2012: £7.0 million) reflecting improved second quarter performance and the benefits from the prior year restructuring.</li>
<li>Net debt reduced by 37% to £53.0 million (2012: £83.8 million) reflecting tight control of inventory and working capital and the receipt, in April 2013, of £17.5m from the sale of the non core aggregates businesses.</li>
<li>Demand improving and order intake increasing.</li>
<li>International business revenue up 12% with significant increase in orders gained.</li>
<li>Installer order book increased at 10.2 weeks (2012: 9.0 weeks)</li>
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<p>Commenting on these results, Graham Holden, Chief Executive, said:</p>
<p>"Economic conditions are improving and the forward indicators are more positive. After a weak first quarter our markets are now growing and we remain on plan. We had anticipated improving market conditions as the year progressed and, therefore, there is no change to our expectations for the current year.</p>
<p>In the short term the priority is to increase output to meet growing demand and the combination of higher sales and greater output should deliver benefits from operational gearing. Looking further forward the action taken to reduce the cost base and reduce net debt, combined with a range of growth initiatives and our operating flexibility, means the business is well positioned to take full advantage of the improving market conditions."</p>
<p><strong>Group Results</strong></p>
<p>Marshalls' revenue from continuing operations for the six months ended 30 June 2013 was £156.5 million (2012: £163.1 million) a decrease of 4 per cent.</p>
<p>Working conditions in the first quarter, which included the coldest March since 1910, were difficult. However, in quarter two, there has been an improvement with a positive change in customer sentiment and order intake increasing during May and June. We had anticipated improving market conditions as the year progressed and therefore there is no change to our expectations for the current year. The programme of cost reduction and cash realisation measures instigated in 2012 is complete and continues to deliver positive results.</p>
<p>Sales to the Public Sector and Commercial end market, which represent approximately 63 per cent of Marshalls' sales, were down 6 per cent, on a continuing basis. Sales to the Domestic end market, which represent approximately 32 per cent of Group sales, were down 3 per cent compared with the prior year period. Sales in the International business have increased by 12 per cent in the six months ended 30 June 2013 and are now 5 per cent of Group sales.</p>
<p>On 30 April 2013 the Group completed the sale of quarries and associated aggregates businesses to Breedon Aggregates England Limited. The revenue generated from these operations in the period to disposal on 30 April 2013 was £3.0 million (six months ended 30 June 2012: £4.4 million). For the year ended 31 December 2012 the operating profit generated from the operations at these quarries was £1.1 million, based on annual turnover of £10.0 million, of which £8.8 million came from sales outside the Group. The operations have been treated as discontinued in these half-year results. The post tax profit from discontinued operations in the six months ended 30 June 2013 is £0.4 million, which includes a net profit on disposal of £0.2 million. On 23 August 2013 additional consideration of £1 million was received following the satisfactory completion of a post completion condition. This condition had required the commissioning of a sand extraction plant to the satisfaction of the purchaser. The additional consideration, net of attributable costs, has given rise to an increase in the post tax profit of discontinued operations of £0.7 million and this will be recognised in the second half.</p>
<p>The initial cash consideration at completion of £17.5 million has enabled the Group to improve materially on its target net debt to EBITDA ratio of two times by the end of 2013. The net debt to EBITDA ratio at 30 June 2013 is 1.9 times.</p>
<p>Operating profit from continuing operations was £9.8 million (2012: £8.8 million, before operational restructuring costs and asset impairments). EBITDA from continuing operations was £17.0 million (2012: £17.0 million, before operational restructuring costs and asset impairments).</p>
<p>Net finance costs were £1.8 million (2012: £1.8 million) and interest was covered 5.6 times (2012: 4.8 times). The effective tax rate, from continuing operations, was 10.7 per cent (2012: 4.8 per cent, before operational restructuring costs and asset impairments) and continued to benefit from the reduction in the rate of corporation tax, a credit arising on the finalisation of prior year tax computations and the utilisation of brought forward capital losses. There will be an additional deferred tax credit in the second half as reductions in the rate of corporation tax to 21 per cent by April 2014 and 20 per cent by April 2015 were substantively enacted, following the receipt of Royal Assent in July 2013, and this is expected to result in there being only a nominal tax charge in the year.</p>
<p>Basic EPS from continuing operations was 3.80 pence (2012: 3.43 pence, before operational restructuring costs and asset impairments). EPS from total operations was 4.00 pence (2012: loss of 3.82 pence). The declared interim dividend will be held at 1.75 pence (2012: 1.75 pence) per share.</p>
<p>Operating Performance</p>
<p>The Group's recent operational focus has been to reduce cost, match inventory to demand and create operational flexibility. Manufacturing output can now be increased by over 25 per cent without the need for any significant investment. Inventory is at an optimum level for current market conditions and, as demand is improving, output is being increased.</p>
<p>In the Public Sector and Commercial end market Marshalls' strategy is to continue to build on its position as a market leading landscape products specialist. The Group has experienced technical and sales teams who continue to focus on markets where future demand is greatest across a full range of integrated products and sustainable solutions to customers, architects and contractors. The Group maintains its reputation for technical expertise, quality and service and has extensive reserves of natural stone. This broad approach differentiates the Group from its competitors.</p>
<p>Although Public Sector demand has been subdued, Commercial order intake has been strong in the second quarter with the Group securing its largest ever natural stone paving order in Manchester and two significant export orders for street furniture in Saudi Arabia and Qatar. Stone cladding, which is a relatively new area of focus for the Group, is a particular growth area and the supply of stone for a new prestigious office building in the City of London will deliver sales in the region of £6 million over the next two years. Commercial work from rail and new house building is also increasing, albeit from historically low levels.</p>
<p>In the Domestic end market Marshalls' strategy continues to be to drive more sales through quality installers. The Marshalls Register of approved domestic installers is unique and has grown to over 1,800 teams. The focus is to ensure a consistently high quality standard and good geographical coverage and the Group remains committed to increasing the marketing support of the installer base through increased training, marketing materials and sales support. The Group has also continued to focus on innovation in order to develop areas of particular sales opportunity and to strengthen further the Marshalls' brand. The Group launched Cobbletech in 2012 as a Marshalls Installer exclusive. This has utilised patented technology developed by the Group's Belgian business and is the market's first genuinely new driveway product for a decade. Sales in the first half of 2013 were £0.8 million, a significant increase from £0.2 million in the whole of the prior year. Utilising this technology Marshalls has further new products to launch over the next few years and the product's technical strength means that it is potentially suitable for both Commercial and Domestic applications.</p>
<p>Historically, there has been a good correlation between consumer confidence and the installer order books. The survey of domestic installers at the end of June 2013 revealed order books at a very encouraging 10.2 weeks (2012: 9.0 weeks) and compares with 8.5 weeks at the end of April 2013 (2012: 7.5 weeks). This is the highest June order book since 2004.</p>
<p>Continued progress is being made in developing the International business and activity levels are encouraging. The Group's new Belgian subsidiary, Marshalls NV, is now nearing the end of its "start-up" phase and the management team has been fully established. Sales from the International business have increased by 12 per cent in the six months ended 30 June 2013 despite the negative market background in Europe. The Belgian business provides a physical stock location in mainland Europe from which to supply the Group's specialist product portfolio. Marshalls continues to expand its geographical reach and to extend its International supply chains and routes to market.</p>
<p><strong>Balance Sheet and Cash Flow</strong></p>
<p>Net assets at 30 June 2013 were £182.7 million (June 2012: £179.5 million).</p>
<p>At 30 June 2013 net debt was £53.0 million (June 2012: £83.8 million) which is a reduction of 37 per cent. Cash management continues to be a high priority area and the Group has reduced inventory levels by approximately £10 million, on a like for like basis, compared with the half year position in 2012. This, combined with the cash realisation from the asset sales, has resulted in gearing of 29.0 per cent (June 2012: 46.7 per cent).</p>
<p>In July 2013, following the steady reduction in net debt, and especially following the disposal of the aggregates businesses, the Group cancelled a £25 million loan facility in order to re-align the unused headroom against available facilities. The Group continues its policy of having significant committed facilities in place with a positive spread of medium term maturities. In August 2013, the Group renewed its short term working capital facilities with RBS.</p>
<p>The balance sheet includes the defined benefit pension surplus of £9.9 million at 30 June 2013 (December 2012: £8.2 million surplus; June 2012: £2.1 million surplus). This balance is made up of £247.1 million (December 2012: £246.6 million; June 2012: £247.5 million) in respect of the present value of the Scheme obligations and of £257.0 million (December 2012: £254.8 million; June 2012: £249.6 million) in respect of the fair value of the Scheme assets. The surplus has been determined by the Scheme Actuary using assumptions that are considered to be prudent and in line with current market levels. The assumptions that have changed in the last six months are an increase in the AA corporate bond rate from 4.7 per cent to 4.9 per cent, in line with market movements, and an increase in the expected rate of inflation ("RPI") from 2.9 per cent to 3.4 per cent.</p>
<p><strong>Dividend</strong></p>
<p>The Board has declared an interim dividend of 1.75 pence (June 2012: 1.75 pence) per share. This dividend will be paid on 6 December 2013 to shareholders on the register at the close of business on 25 October 2013. The ex-dividend date will be 23 October 2013.</p>
<p><strong>Board</strong></p>
<p>As previously announced, Martyn Coffey will assume the position of Chief Executive on 10 October 2013. On the same date, Graham Holden will step down from the Board and he will remain with the business until April 2014 to provide a comprehensive handover and seamless transition.</p>
<p><strong>Outlook</strong></p>
<p>Economic conditions are improving and the forward indicators are more positive. After a weak first quarter our markets are now growing and we remain on plan. We had anticipated improving market conditions as the year progressed and, therefore, there is no change to our expectations for the current year.</p>
<p>The Construction Products Association's summer forecast shows the reduction in UK market volumes in 2013 being 1.5 per cent which is a significant recovery from the quarter one reduction of 10 per cent. Improved growth of 2.2 per cent and 4.5 per cent are now forecast for 2014 and 2015 respectively. Consumer confidence has started to show modest improvement.</p>
<p>In the short term the priority is to increase output to meet growing demand and the combination of higher sales and greater output should deliver benefits from operational gearing. Looking further forward the action taken to reduce the cost base and reduce net debt, combined with a range of growth initiatives and our operating flexibility, means the business is well positioned to take full advantage of the improving market conditions.</p>
<p>Graham Holden<br />
Chief Executive</p>
</div>Marshalls Plc trading update: 6 January 2012https://landscapejuicenetwork.com/profiles/blogs/marshalls-plc-trading-update-6-january-20122012-01-06T07:00:00.000Z2012-01-06T07:00:00.000ZPhil Voicehttps://landscapejuicenetwork.com/profil/philvoice<div><p>Current trading in line with expectations</p>
<p>Marshalls' revenue for the year ended 31 December 2011 increased by 8 per cent to £334 million (2010: £309 million).</p>
<p>Sales to the Public Sector and Commercial end market, which represent approximately 60 per cent of Marshalls' sales, were up 9 per cent and sales to the Domestic end market including Domestic International sales, on a continuing basis, were up by 7 per cent compared to the prior year. Sales into International end markets grew from 1 per cent to 3 per cent of Group sales.</p>
<p>Cash management remains a central priority with a continuing focus on capital expenditure, stock control and the management of monetary working capital. The Group, however, continues to invest for the medium term. In 2011 Marshalls expanded its International interests and made a capital expenditure and working capital investment of approximately £8 million. As a result net debt at 31 December 2011 was £77 million (2010: £67 million).</p>
<p>Outlook</p>
<p>Sales remained encouraging in the final quarter of 2011 despite the uncertainty that prevailed at the macro economic level. The Group continues to develop sales initiatives including targeted marketing and product innovation in the Public Sector and Commercial end market, installer initiatives and distributor merchandising in the Domestic end market, and specialist landscape products into selected International end markets.</p>
<p>In the Public Sector and Commercial end market there continues to be reasonable visibility of demand for the first half of 2012 with continuing strength in Commercial offsetting weakness in Public Sector.</p>
<p>In the Domestic end market volumes remain subdued against a background of low consumer confidence. The survey of domestic installer order books at the end of October 2011 showed 7.8 weeks (2010: 8.1 weeks) compared with 7.0 weeks at the end of June 2011.</p>
<p>Commenting on this Trading Update, Graham Holden, Chief Executive, said:</p>
<p>"Marshalls has a solid asset underpin with good operational and financial flexibility. Selective investment in new products and services and in new markets and growth opportunities is being balanced with careful cost management. As these sales figures show, our initiatives are delivering additional sales and this creates confidence for the future".</p>
<p>The next update will be the Preliminary Results announcement on Friday 9 March 2012</p>
</div>B&Q fourth quarter resultshttps://landscapejuicenetwork.com/profiles/blogs/bampq-fourth-quarter-results2010-02-22T08:00:00.000Z2010-02-22T08:00:00.000ZPhil Voicehttps://landscapejuicenetwork.com/profil/philvoice<div>It seems that B&Q, the home and garden retailer owned by Kingfisher, would have been in the black for the final quarter of 2009 if it had not been for the long periods of snow and ice.<br />
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Kingfisher plcreported Q4 total sales down 1% (LFL down 3%) to £2.3 billion impacted by adverse weather. Expects adjusted full<br />
year pre-tax profit to be up strongly on the prior year and slightly<br />
ahead of current analyst consensus estimates.<br />
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B&Q total sales declined by 1.6% to £836 million (-3.5% LFL) reflecting exceptional adverse weather in January with all<br />
categories displaying similar trends. Prior to the adverse weather, LFL<br />
was slightly up. Gross margins are expected to be strongly up<br />
reflecting reduced promotional activity compared to Q4 last year,<br />
better sales of higher margin products and continued shrinkage<br />
reduction and supply chain cost efficiencies.<br />
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Ian Cheshire, Group Chief Executive, said:<br />
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“Underlying sales trends remained relatively resilient in the fourth quarter before trading in January was significantly disrupted by the heavy snow and low temperatures across Europe,<br />
particularly in the UK and Poland. However, our on-going programme of self-help initiatives on gross margin and costs resulted in strong quarterly profit growth and so we expect our full year earnings will be slightly ahead of current analyst consensus expectations when we<br />
announce our annual results next month.<br />
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“After what has been a busy and productive year I am pleased that we now have a stronger balance sheet, a very experienced leadership team and a clear set of well-established ‘Delivering Value’ initiatives to drive higher cash returns and future growth.”<br />
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<a href="http://www.kingfisher.co.uk/index.asp?pageid=219">See the Kingfisher trading statement.</a>
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