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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.