Marshalls Plc (MSLH.L), on Tuesday, issued a full-year trading update and reported FY24 revenue of about £619 million compared to £671 million generated a year ago.
Landscaping revenue was £268 million versus £321 million in 2023, representing a decline of 17%. The full-year performance reflects lower demand from house builders and continued subdued activity in private housing RMI.
Building Products revenue decreased 3% to £165 million from £170 million generated in 2023, reflecting weak demand in new build housing. Meanwhile, Roofing revenue increased by 4% to £186 million from the prior year's £180 million.
The company has indicated that its business units are well-positioned to capitalize on the anticipated market recovery, which is expected to occur progressively throughout the year. However, ongoing market uncertainty, coupled with a £3 million increase in costs due to higher National Insurance contributions, necessitates a cautious outlook. Consequently, the Group will uphold its disciplined approach to cost management.
The Board anticipates that profitability in 2025 will surpass FY2024, with the rate of growth contingent upon the pace of market recovery and the realization of benefits from short-term initiatives.
In addition, the company expects adjusted profit before tax for 2024 to be within the range of market expectations. The consensus forecast compiled by the company indicates an adjusted profit before tax of £52.9 million for 2024, with a range of £52.0 million to £53.7 million.
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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.