Marshalls hails 'encouraging start to 2025' as revenue growth returns for Yorkshire giant
Yorkshire-based building materials giant Marshalls says it has “made an ecnouraging start to 2025” as it recorded a return to revenue growth in the first four months of the year.
The Elland-headquartered company delivered revenue of £207m, a year-on-year increase of four per cent on the £199m recorded at the same point last year.
It follows the company saying in March that it it is expected a trading boost from the Government’s commitment to new housing and interest rate falls this year after posting reduced revenue and profits for 2024.
In its latest trading update for the first four months of 2025, Marshalls said revenue in its landscaping products division had contracted by three per cent year-on-year to £86 million. But it said this represented a “significant improvement” on the 11 per cent reduction which was recorded in the second hald of 2024.
The company said: “This performance is encouraging in the context of subdued end markets and reflects the impact of the comprehensive performance improvement plan that was initiated in June 2024.
"The improving trend was evident in both our stockist and direct to site revenues, driven by strengthened customer relationships. We remain confident of achieving revenue and market share growth for Landscaping Products in 2025 and are further encouraged by the ongoing improvements in our order intake.”
Revenue for its building products division grew by four per cent to £56m, which the group said reflected “a strong performance in our Water Management and Mortars business units driven respectively by good commercial execution and moderate improvements in build rates on housing developments which favours ready-to-use mortars”.
Roofing revenue increased by 15 per cent to £65m, compared to £56m in the same point in 2024. (2024: £56 million).
A spokesperson said: “This growth was driven by the continued strong performance of Viridian Solar, which benefitted from house builders choosing its market-leading integrated solar proposition in response to changes in building regulations. Marley Roofing also delivered sustained revenue growth, primarily through timber battens and clay tiles, with the latter benefitting from the launch of a new product range.”
Matt Pullen, Chief Executive of Marshalls plc, said: "We have made an encouraging start to 2025 with a return to Group revenue growth in the first four months of the year and improving trends in all our reporting segments.
“We remain focused on executing our performance improvement plan in Landscaping alongside deploying our Transform & Grow’ strategy at pace and are well positioned to respond swiftly to improving activity levels when our key end markets recover.”
An outlook statement from the company said: “The board is encouraged as we begin to see results from our performance improvement plans in Landscaping and growth across our other businesses despite markets remaining subdued. The Group remains well placed to benefit as key end markets recover. Against this backdrop, the board’s expectations for 2025 remain unchanged.”