Marshalls' exposure to Iran war costs 'limited by UK-centric manufacturing network'
Building products manufacturer Marshalls says its financial expectations remain unchanged despite uncertainty caused by the war in the Middle East – thanks in part to its “UK-centric manufacturing network”.
The Elland-based company has provided a trading update for the first four months of 2026, stating trading was in line with expectations with group revenue of £205m recorded – one per cent down on the same point last year.
Revenue in its landscaping products division was £86m and in building products £56m - both in line with last year. But in roofing products there was a three per cent decline in revenue to £63m.
It said expectations for the full year remain unchanged.
A company statement said: “The group is responding in a disciplined way to cost inflation arising from the war in the Middle East, using targeted commercial actions and working closely with customers to recover cost where possible, while maintaining our strong customer relationships.
"With the vast majority of our products manufactured in Britain, our UK-centric manufacturing network limits direct exposure to international freight disruption and supports continuity of supply, service and quality.”
It added: “The macroeconomic outlook remains uncertain and there is potential for ongoing volatility arising from the war in the Middle East to further impact trading conditions.”
Chief Executive Officer Simon Bourne said the company is moving in the right direction.
"Trading in the first four months of the year has been in line with our expectations, and our teams are making clear progress in the areas within our control,” he said.
"The disciplined execution of our 'Transform & Grow' strategy is strengthening our market position, improving service and operational performance, alongside maintaining a tight focus on cash, cost and capital allocation.
"In landscaping, the performance improvement plan continues to deliver progress; in water management, we are building momentum; and across roofing, disciplined commercial and operational execution is supporting performance.
"This progress means our expectations for the full year remain unchanged and reinforces our confidence in the strategic direction of the group and our ability to deliver sustainable, profitable growth over the medium term."
The company’s recent major projects include work as a key supplier on the Wembley Park scheme, a multi-billion redevelopment scheme around Wembley Stadium involving thousands of new homes and commercial and public space.
Shares in the company rose by around 2.5 per cent in early Wednesday trading following the update.