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Marshalls PLC on Monday reported a drop in first-half profit as weakness in its Landscaping Products business offset growth elsewhere, and said it sees no improvement in market activity for the rest of the year. For the six months to June 30, the Yorkshire, England-based maker of hard landscaping products such as paving stones posted pretax profit of £11.7 million, down from £21.5 million a year earlier. Adjusted pretax profit fell 17% to £22.0 million from £26.6 million. Revenue rose 4.2% to £319.5 million from £306.7 million, driven by growth in Building Products and Roofing Products. However, Landscaping Products faced subdued demand, pricing pressure and a less profitable sales mix, which weighed heavily on margins. By segment, adjusted operating profit from Landscaping Products plunged 96% to £300,000 from £8.3 million, while Building Products rose 7.8% to £6.9 million from £6.4 million. Roofing Products increased 6.9% to £24.8 million from £23.2 million. The interim dividend was cut by 15% to 2.2 pence per share from 2.6p. Chief Executive Matt Pullen said the company was taking ‘decisive action’ to speed up optimisation of its manufacturing network, with expected annualised savings of £9 million by 2026. The company said it is ‘encouraged by the government’s commitment to new housing and infrastructure investment’. However, it added that ‘mindful of continuing uncertainty in the macro-economic environment, the board currently sees no improvement in market activity levels through the remainder of 2025.’ For 2025, Marshalls reiterated guidance for adjusted pretax profit between £42 million and £46 million, down from £52.2 million it recorded in 2024. Shares in Marshalls were down 2.1% at 202.10 pence in London on Monday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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