Firm says increased housing and infrastructure work will see income head back north
Building products firm Marshalls said a growth in housebuilding and infrastructure such as water work will see a return to growth this year.
The firm said revenue slid again last year after falling 7% in 2023 with income in 2024 dropping 8% to £619m.
Adjusted pre-tax profit was down 2% to £52m but chief executive Matt Pullen said it order book was on the rise and added: “As we look ahead, we are encouraged by the government’s commitment to boosting new house building and investing in national infrastructure. We expect a market recovery later this year, which should strengthen progressively.”
The firm’s major businesses include landscaping, building products and roofing products which includes the Marley brand.
Building and roofing products both turned in improved performances but income at its biggest business, landscaping, saw revenue down 17% to £268m and adjusted operated profit halved to £10.7m.
Marshalls said revenue at the landscaping business was “particularly weak in new housing and housing RMI” but added that the fall income at the business in the second half had slowed. It added that it expected revenue to grow this year with a “significant improvement in profitability from 2026”.
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