Marshalls reports profit growth despite flat revenue

Marshalls, a building products manufacturer, reported improved half-year results for the period ending June 30. Despite flat revenue of approximately £317.8 million, the company saw significant growth in profits. Adjusted pre-tax profit rose by 13.2% to £24.9 million, while one report noted a jump in pre-tax profits to £19.7 million.

The company’s performance was driven by cost savings and improved execution, particularly within its landscaping division. This division is on track to deliver £11 million in annualized cost savings by the end of the year. The roofing segment also remained resilient, with Marley gaining market share and Viridian Solar seeing revenue growth.

However, the results were mixed across other sectors. Subdued demand in the new-build housing market negatively impacted the bricks, masonry, and water management divisions. Despite these challenges, Marshalls maintained its full-year guidance and increased its interim dividend, stating it does not expect a material market recovery in the second half of the year.