Trading update says numbers will improve in line with market recovery

Building products firm Marshalls has said turnover last year will be down 8% when it reports its 2024 results in the spring.

In a trading update, the firm said revenue is expected to be £619m – down from the previous year’s figure of £671m.

The biggest fall was at its landscaping business where income slumped 17% which it said “reflects lower demand from house builders and continued subdued activity in private housing RMI”.

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Marshalls said revenue was down primarily because of a subdued housing market

But building products revenue was down by just 3% at £165m while its roofing business saw turnover rise 4% to £186m.

It said year-end debt was down to £134m, from £173m in 2023.

It added: “The Group’s business units are well positioned to capitalise on the market recovery, which is expected to build progressively through the year.

“The Board believes that profitability in 2025 will be ahead of FY2024 with the rate of growth subject to the pace of market recovery.”

The firm will announce its full year results on 17 March.

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