16th Oct 2024 10:23
Marshalls PLC - Yorkshire, England-based landscaping products maker - Revenue for the nine months that ended September 30 is GBP476 million, 9.8% lower than GBP528 million a year before. This is due to "continued weak end markets". Revenue for the third quarter alone is 3% lower than the prior year. However, Marshalls notes this is a "material improvement" from the like-for-like revenue fall of 12% in its first half. Revenue in its landscape products business drops 19% to GBP209 million from GBP257 million; revenue for building products decreases 3.8% to GBP128 million from GBP133 million, whilst revenue for roofing products rises 0.7% to GBP139 million from GBP138 million.
Marshalls anticipates demand to improve in the coming months, and expects calendar 2024 profit in line with its previous expectations, which it does not specify on Wednesday. In May this year, Marshalls predicted full-year profit at a similar level to 2023, which saw pretax profit of GBP22.2 million.
Current stock price: 338.00 pence, up 9.4% in London on Wednesday morning
12-month change: up 65%
By Emily Parsons, Alliance News reporter
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