Marshalls plc (LSE:MSLH) will look for acquisitions. Justin Lockwood Chief Financial Officer said during the half year results, "Net assets have strengthened during the period to more than GBP 300 million. So taken together, the strong balance sheet, the highly cash-generative nature of the business model and the headroom against our debt facilities gives us significant capacity to execute our organic growth strategy and to consider selective acquisitions as and when opportunities arise.

Turning now to our capital allocation policy, and this is a slide that will be very familiar to all of you. And I can confirm that there have been no changes to this policy during the period. Our first priority remains to invest in our organic growth opportunities.

And whilst CapEx was relatively modest in the first half of the year at GBP 7 million, we expect to spend around about GBP 30 million for the year as a whole, and that's driven by incremental expenditure on the dual block plant at St Ives and a variety of other projects. Our second priority is to continue to invest in R&D and new product development, and we expect to spend a similar amount in that area as in previous years. We operate a progressive dividend policy, and we aim to maintain dividend cover of 2x over the business cycle.

And we will continue to evaluate potential acquisition opportunities where we see good businesses in attractive markets that add value to both our customer offer and to our shareholders".