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Marshalls, the building and landscaping products manufacturer, saw growth inch ahead during the first six months of the year, according to its results for the period ended June 30 2025.
According to the report, the group returned to revenue growth with tangible early progress in the execution of its ‘Transform & Grow’ strategy, however, end markets remain challenging, with subdued demand exerting pressure on prices, and a less profitable product mix adversely impacted profitability.
That said, Landscaping Products, which derives around 42% of its revenues from commercial & infrastructure, approximately 30% from new build housing and 28 % from private housing RMI saw profits fall 96%.
Mindful of continuing uncertainty in the macro-economic environment, the Board currently sees no improvement in market activity levels through the remainder of 2025, and expects the full-year outturn to be consistent with its revised guidance issued on 25 July 2025.
Chief executive, Matt Pullen, said: “The Group returned to revenue growth of four per cent in the first half of the year despite a subdued market. This performance reflects the benefits of our diversified portfolio, with Building and Roofing Products delivering good revenue and operating profit growth, and Landscaping Products reporting solid volume growth during the period although at lower profitability.
“The Landscaping Products improvement plan is firmly underway, and we have made solid, early progress with operational improvements. Whilst profit was below expectations, we have strengthened customer relationships and seen volume growth in the first half. We are accelerating action to reduce costs and optimise our national manufacturing network, which is expected to improve Landscaping Products profitability materially in 2026 and deliver the turnaround.
“We are also delivering our growth strategies in Roofing and Building Products, building on our successful M&A strategy, by leveraging these growth engines to build a stronger and more diversified Group. In Roofing Products, Viridian Solar continues to benefit from its market-leading roof-integrated solar proposition and the regulatory tailwinds driving energy efficiency in new homes and Marley Roofing also continued to deliver revenue growth, reinforcing its leadership position. In Building Products, we have secured new work in Water Management and are developing operational capability as we reposition the business to capture growth opportunities in the infrastructure and wastewater market ahead of the AMP8 investment cycle. While revenue in Bricks and Masonry contracted, our disciplined approach to pricing has prioritised margins in a highly competitive environment.
“Looking ahead, while the macroeconomic outlook remains uncertain and markets are likely to stay subdued in the near term, we are encouraged by the Government’s commitment to new housing and infrastructure investment which, together with our ‘Transform & Grow’ strategy, positions us well for sustainable growth across all our businesses in the medium term.”
