While sales of its Marley roofing products are doing well, thanks to its solar power products, Marshalls鈥� landscaping blocks are facing headwinds, with no signs of improvement in the months ahead.
In trading update today for the six months to 30th June 2025 the board said that it sees no improvement in market activity levels through the remainder of 2025. 鈥� Accordingly, its full year expectations for the group have reduced and it now expects adjusted profit before tax to be in the range of 拢42m and 拢46m in 2025,鈥� it said.
Landscaping products (paving blocks) revenue contracted by 1% year-on-year to 拢135m (2024: 拢137m) but overall revenue is up for the first six months.
Building products (bricks, mortars and drains) revenue grew by 5% to 拢86m (2024: 拢82m), while roofing products revenue increased by 11% to 拢98m (2024: 拢88m), primarily driven by the 50% growth for the roof-integrated panels of Viridian Solar.
A partial site closure during the period is expected to save 拢3m a year on costs for the landscaping division.
Chief executive Matt Pullen said: "The performance of our building and roofing products segments, which both delivered revenue growth in subdued end markets, demonstrates the benefits of the group's acquisition strategy.聽 However, our landscaping products segment reported a weaker than expected performance. We remain focused on executing the performance improvement plan in this segment, however the softening of demand, a weaker product mix and targeted price investment have reduced our group profit expectations for 2025.聽 We have taken action to reduce costs and optimise our national manufacturing network in the first half of the year and are taking further action at pace in the second half, which together are expected to improve landscaping profitability materially in 2026.鈥�
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