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Prices & Quotes - UK Markets - Marshalls (MSLH)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 685.50p
Change Today:
5.00p
Market Cap:
1,371.36m
Sector:
Construction & Materials

Marshalls to secure ?90m additional funding; board takes 20% pay cut

By Michele Maatouk

Date: Tuesday 14 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Landscape products company Marshalls said on Tuesday that it is set to secure ?90m in additional funds from its banking partners and that its board will take a 20% pay cut as it looks to weather the coronavirus outbreak.
Marshalls said its banking partners, NatWest, Lloyds and HSBC, have all confirmed their "full support" for an additional ?30m, 12-month committed revolving credit facility to be provided.

"The discussions held have been positive and, subject to the finalisation of documentation, are now well advanced," it said, adding that the documentation process is expected to complete by the end of the month. These additional facilities comprise ?90m in total and "will strengthen the group's headroom as we continue to manage the current situation", it said.

Including these additional facilities, Marshalls will have total bank facilities of ?255m, of which ?230m will be committed.

In addition, the company said that its board has unanimously agreed to take an immediate 20% reduction in pay for the duration of the crisis.

Marshalls said it is "closely monitoring" cash flows to ensure the business is in a strong position for eventual recovery. Discretionary expenditure is being "controlled" and non-essential capital expenditure has been deferred, it said. It is also making use of the government scheme allowing the deferral of tax payments that would normally have been payable in the period to 30 June.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Marshalls Market Data

Currency UK Pounds
Price 685.50p
Change Today 5.00p
52 Week High 794.50p
52 Week Low 569.00p
Volume 84,958
Shares Issued 200.05m
Market Cap 1,371.36m

Performance Indicators

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What The Brokers Say

Strong Buy 2
Buy 1
Neutral 3
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Marshalls Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Jun-21 17-Oct-19
Paid 01-Jul-21 04-Dec-19
Amount 4.30p 4.70p

Trades for 22-Jun-2021

Time Volume / Share Price
14:44 161 @ 685.50p
14:44 433 @ 685.00p
14:44 237 @ 685.50p
14:44 124 @ 685.50p
14:42 50 @ 686.00p

Marshalls Key Personnel

CEO Martyn Coffey