Marshalls Plc (MSLH.L), a British provider of construction, landscaping, and other materials, on Monday reported a decline in pre-tax income for the full year, reflecting a fall in revenue, mainly due to weak marco-economic conditions and uncertainty on the British construction industry.
The company said: "Macro-economic pressures and uncertainty have continued to impact the construction industry in 2023, with significant cost inflation in the UK economy and progressive base rate increases by the Bank of England, leading to falling real wages, which has put unprecedented pressure on household budgets, and resulted in reduced demand in the housing sector."
For the 12 months, the company posted a pre-tax income of 22.2 million pounds, lesser than 37.2 million pounds in the previous year.
Excluding items, pre-tax earnings were at 53.3 million pounds, compared with 90.4 million pounds in 2022.
Net profit stood at 18.4 million pounds or 7.3 pence per share versus last year's 26.5 million pounds or 11.3 pence per share.
Operating profit slipped to 41 million pounds from 47.9 million pounds last year.
Adjusted operating profit was down to 70.7 million pounds from 101.1 million pounds a year ago.
Excluding items, EBITDA moved down to 103.6 million pounds from 136 million pounds in 2022.
Revenue dropped to 671.2 million pounds from 719.4 million pounds in 2022.
Marshalls will pay a final dividend of 5.7 pence per share, bringing the total dividend for the year to 8.3 pence, down from previous year's 15.6 pence. The dividend will be paid on July 1, to shareholders on the register as of June 7.
Citing current weak market trends, for the full year, the company expects its annual that profit to be at a similar level to 2023, on a lower than previously expected revenue.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.