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Marshalls PLC on Friday said full-year outturn will be below the bottom end of market guidance.
Marshalls shares were down 19% at 244.85 pence each on Friday morning in London.
The Elland, West Yorkshire-based landscaping products firm said revenue for the nine months to September 30 was £544 million, rising 20% year-on-year from £453 million.
Marshalls Building Products saw revenue grow 22% to £149 million from £123 million a year before, with a strong performance from the Bricks & Masonry business.
However, it now predicts its outturn will be slightly below the bottom end of the current range of market expectations for its full year.
Consensus stands at a range of £95.1 million to £101.0 million.
The guidance cut is due to the ‘combined impact of the accelerated rate of revenue contraction in Marshalls Landscape Products in the third quarter and the reduction in efficiency resulting from lower manufacturing output in this reporting segment’, it explained.
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