Marshalls: Yorkshire manufacturer achieves revenue growth in subdued market
Building materials supplier Marshalls has revealed that its markets remain challenging with subdued demand exerting pressure on prices.
In a statement to accompany its half year results, Marshalls said it currently sees no improvement in market activity levels through the remainder of 2025.
The group’s revenue for the six months ended June 30 2025 was £319.5m, which is four per cent higher than 2024, while group adjusted operating profit contracted by £5.6m to £28.4m.
Matt Pullen, the chief executive, said the group had returned to revenue growth despite facing a subdued market.
He added: "This performance reflects the benefits of our diversified portfolio, with building and roofing products delivering good revenue and operating profit growth, and landscaping products reporting solid volume growth during the period although at lower profitability.”
Mr Pullen said the landscaping products improvement plan is firmly underway, and Marshalls has made solid, early progress with operational improvements.
"Whilst profit was below expectations, we have strengthened customer relationships and seen volume growth in the first half,’’ he added. “We are accelerating action to reduce costs and optimise our national manufacturing network, which is expected to improve landscaping products profitability materially in 2026 and deliver the turnaround.
“We are also delivering our growth strategies in roofing and building products, building on our successful M&A (mergers and acquisitions) strategy, by leveraging these growth engines to build a stronger and more diversified group.
"In roofing products, Viridian Solar continues to benefit from its market-leading roof-integrated solar proposition and the regulatory tailwinds driving energy efficiency in new homes and Marley Roofing also continued to deliver revenue growth, reinforcing its leadership position.
"In building products, we have secured new work in water management and are developing operational capability as we reposition the business to capture growth opportunities in the infrastructure and wastewater market ahead of the AMP8 (the upcoming five-year regulatory period for the UK water industry) investment cycle.
"While revenue in bricks and masonry contracted, our disciplined approach to pricing has prioritised margins in a highly competitive environment.
“Looking ahead, while the macroeconomic outlook remains uncertain and markets are likely to stay subdued in the near term, we are encouraged by the Government’s commitment to new housing and infrastructure investment which, together with our ‘Transform & Grow’ strategy, positions us well for sustainable growth across all our businesses in the medium term.”
Marshalls, which is based in Elland, West Yorkshire, can trace its roots back to the 1890s, when businessman Solomon Marshall began quarrying stone.
In 1961 Marshalls opened an in-house testing laboratory and during the early 1970s it introduced block paving to the UK which remains a popular choice for residential driveways.