Marshalls (LON:MSLH) - Doing the hard yards
Mar 12th 2013 - Edison Investment Research today published a report on Marshalls (MSLH.L, LSE:MSLH, LON:MSLH) entitled "Doing The Hard Yards". In summary, the report says:
FY12 was a rearguard action for Marshalls, having faced a confluence of weak markets and wet weather. Actions taken arrested the profit decline in H2 and brought cash benefits to lower borrowings. Net debt looks set to reduce further in FY13 but profits need to double before cover ratios become more comfortable. Marshalls’ model has the potential to deliver this, although not in FY13.
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