11th Aug 2025 09:25
(Alliance News) - Marshalls PLC on Monday reported a drop in first-half profit as weakness in its Landscaping Products business offset growth elsewhere, and said it sees no improvement in market activity for the rest of the year.
For the six months to June 30, the Yorkshire, England-based maker of hard landscaping products such as paving stones posted pretax profit of GBP11.7 million, down from GBP21.5 million a year earlier. Adjusted pretax profit fell 17% to GBP22.0 million from GBP26.6 million.
Revenue rose 4.2% to GBP319.5 million from GBP306.7 million, driven by growth in Building Products and Roofing Products. However, Landscaping Products faced subdued demand, pricing pressure and a less profitable sales mix, which weighed heavily on margins.
By segment, adjusted operating profit from Landscaping Products plunged 96% to GBP300,000 from GBP8.3 million, while Building Products rose 7.8% to GBP6.9 million from GBP6.4 million. Roofing Products increased 6.9% to GBP24.8 million from GBP23.2 million.
The interim dividend was cut by 15% to 2.2 pence per share from 2.6p.
Chief Executive Matt Pullen said the company was taking "decisive action" to speed up optimisation of its manufacturing network, with expected annualised savings of GBP9 million by 2026.
The company said it is "encouraged by the government's commitment to new housing and infrastructure investment". However, it added that "mindful of continuing uncertainty in the macro-economic environment, the board currently sees no improvement in market activity levels through the remainder of 2025."
For 2025, Marshalls reiterated guidance for adjusted pretax profit between GBP42 million and GBP46 million, down from GBP52.2 million it recorded in 2024.
Shares in Marshalls were down 2.1% at 202.10 pence in London on Monday morning.
By Eva Castanedo, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Marshalls