Marshalls turns to cost cutting as hard landscaping market stays soft
Marshalls PLC on Monday confirmed its interim chief executive officer as permanent CEO, as it confirmed its 2025 results will be as previously guided and 2026 will be boosted by cost savings, amid a continued weak construction market in the UK.
The Yorkshire, England-based maker of hard landscaping products such as paving stones said it expects to report adjusted pretax profit in line with market expectations, as revenue edged up in 2025.
In a trading update on Monday, Marshalls said revenue was up 2.1% to £632 million in 2025 from £619.2 million in 2024. This is in line with trends reported in its November trading update, the company noted. Adjusted pretax profit is expected to be in line with market expectations of £43.6 million, which would be down 16% from £52.2 million in 2024.
Revenue in Landscaping Products declined marginally to £266 million in 2025 from £268 million in 2024, but revenue from Building Products rose 4.2% to £172 million from £165 million. From Roofing Products, it increased by 4.3% to £194 million from £186 million.
Marshalls said ‘encouraging progress’ was made on its Landscaping Products improvement plan, resulting in volume and market share growth.
The company said it expects to meet market expectations despite ‘subdued end markets and the impact of prolonged pre-budget uncertainty during the second half’.
Looking ahead, the outlook for 2026 ‘continues to be uncertain’, Marshalls said, adding it will focus on operational improvements. Action taken to reduce its cost base during 2025 gives the company confidence that it will deliver an improved financial performance in 2026, Marshalls said, despite no significant improvement in market activity being expects.
Marshalls also on Monday said it has confirmed Simon Bourne as its permanent CEO, after he took on the position on an interim basis from November.
‘Marshalls delivered a resilient performance, evidenced by a return to revenue growth despite the challenging market backdrop, and delivering profits in-line with the market’s expectations,’ Bourne said.
Marshalls will release its 2025 results on March 16.
Shares were down 2.2% to 173.53 pence early Monday in London. They are down 32% over the past 12 months.
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