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BUZZ-Marshalls: breaks past pre-Brexit levels on better H1 margins

BUZZ-Marshalls: breaks past pre-Brexit levels on better H1 marginsBUZZ-Marshalls: breaks past pre-Brexit levels on better H1 margins

** Shares in landscaping materials company +3.5%,
trades higher than pre-Brexit levels for the first time since
the EU referendum vote

** Stock 3rd top FTSE midcap gainer

** Better margins: H1 Rev +2% to 202.4 mln stg & EBITDA +9%
to 32.4 mln stg; co sees no Brexit impact so far

** Stronger margins reflect changes in operational leverage,
strategic initiatives

** Over 1/2 of 30-day avg vol through in less than 30 mins

** Construction, building support services cos hit by
concerns that Brexit would slow demand; but some hopes of
increased government-backed spending

** Overall trading in-line/slightly ahead expectations for
interims, Panmure writes, adding that margins expected to rise
further: 11.4% (FY16), 12.0% (FY17)

** Stock -c.3% YTD vs midcap index +c.3%

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