'We're building a Premier League winning side': Marshalls delivers revenue growth in subdued market
The chief executive of building products manufacturer Marshalls said he was creating a management team comparable with a Premier League winning side as the group delivered revenue growth in a subdued market.
Simon Bourne, CEO of Marshalls, told The Yorkshire Post he was really pleased with the “strong progress” made in 2025, adding: "There were improvements in landscape products and we have a robust balance sheet which means we are set up for success in 2026."
He said Marshalls is “mindful of the conflict in the Middle East” but in the absence of clarity on the war’s impact on end markets and its cost base, group expectations for the year remain unchanged.
He said Marshalls, which has its head office in Elland, West Yorkshire, was well covered from an energy perspective and was focusing on the factors it could control.
Regarding management changes, he said: "We have rebuilt the team; we are building a Premier League winning side which is displacing the competition."
He said he had been happy with Marshalls' operational performance but the "front end of the management team needed some attention" in areas such as marketing.
He confirmed that 100 jobs were cut from the total workforce of 2,500 last year as part of a cost reduction programme and no further job cuts are planned for this year.
He also stressed that Marshalls had planned to face a flat market this year.
Group revenue was £632.1 million during 2025, representing year-on-year growth of 2 per cent. The adjusted profit before tax was £43.7 million, which was below the £52.2 million recorded the year before. Marshalls said this figure was in line with the guidance set out in July last year.
In a statement to accompany the results, Mr Bourne commented: “We have acted decisively to strengthen Marshalls’ foundations as part of our ‘transform and grow’ strategy.
"These actions have resulted in a sharper focus on execution with greater emphasis on delivery and commercial discipline alongside more value-driven activity across the business,’’ he added.
"We are not simply waiting for a cyclical recovery. As a result, the business has returned to revenue growth while adjusted profit before tax was in line with the guidance set out in July last year. In landscaping products, we have made significant progress on our near-term improvement plan and put the building blocks in place to support a material increase in operating margins.
"In roofing and building products, we have continued to position the business to capture regulatory and infrastructure-led demand. Our strategic direction remains unchanged, and our immediate focus is on executing against our plan with greater discipline, in order to deliver sustainable, profitable growth over the medium term.”
Marshalls has provided paving for a number of high profile schemes, including the mixed-use Battersea Power Station Development in London.
In a note, analysts from Peel Hunt said: “Management points to market activity levels in the first two months of 2026 that are similar to those seen at the end of 2025, with wet weather acting as a headwind.
The note added: "Overall, management is not expecting any market help this year, but the ‘Transform and Grow’ strategy is delivering cost savings that it expects will benefit the bottom line in 2026.”