Firm closed factories and raised 拢4m in rights issue in response to 19% fall in revenue
Turnover at materials company Marshalls has fallen 19% to 拢166m for the six months to June 30 2009.
The company said it had closed factories and reduced shifts in a bid to cut costs during that period.
In a trading update posted today it said it cut debt by 拢37m to 拢74m and intended to continue reducing borrowing over the rest of 2009.
Marshalls paid a dividend of 1.45p a share today but not to those who bought shares in a 拢34m rights issues in May.
The firm said its public sector and commercial markets were subdued in the first six months and that the domestic market was in line with expectations.
No comments yet