Fox Marble shares up after winning large order
By Duncan Ferris
Date: Monday 17 Jun 2019
(Sharecast News) - Fox Marble on Monday said it had received an order for 1,850 tons of Illirico Selene silver grey marble from an existing customer.
Loading of the material has already begun, and revenue from the order will only be recognised as the material is dispatched from the quarry over the next few weeks. The deal, for an undisclosed sum, is its largest ever single order of the from the Maleshevė quarry in Kosovo.
Chief executive Chris Gilbert said high demand for the product meant sales were "constrained by our ability to extract sufficient quantities to sell into these growing markets and our success in selling our lesser grades of blocks is a consequence of this demand".
"As a result, we expect to see growth in our sales in 2019 and look forward to updating the market accordingly".
Fox Marble's shares were up 5.52% at 7.65p at 0948 BST.
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