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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:
Down 668.50p
Change Today:
-17.00p
Market Cap:
1,337.35m
Sector:
Construction & Materials

Marshalls says 400 jobs under threat in Covid-19 restructure

By Frank Prenesti

Date: Wednesday 13 May 2020

LONDON (ShareCast) - (Sharecast News) - Concrete and landscaping specialist Marshalls said up to 400 jobs were under threat due to 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 included 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.

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 668.50p
Change Today -17.00p
52 Week High 794.50p
52 Week Low 569.00p
Volume 602,384
Shares Issued 200.05m
Market Cap 1,337.35m

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 18-Jun-2021

Time Volume / Share Price
16:57 131 @ 668.50p
16:47 2,843 @ 668.50p
16:46 131 @ 668.50p
16:35 346,589 @ 668.50p
16:29 95 @ 673.00p

Marshalls Key Personnel

CEO Martyn Coffey