Simon Bourne, chief executive officer, said, 鈥淲e have delivered a resilient first half performance, despite subdued end markets, with adjusted profit growth delivered in line with expectations. This reflects our reinvigorated focus on sharper execution, continued financial discipline and the benefits of actions taken through FY25 to create a leaner and more focused operating platform.
鈥淟andscaping Products demonstrates the clearest evidence of this progress, with our performance improvement plan delivering improved profitability and the business remaining on track to deliver the previously announced 拢11m of annualised cost savings by the end of FY26.
"Roofing Products continued to provide a strong contribution, driven by Viridian Solar and disciplined trading in Marley Roofing.
"Building Products was mixed, with Mortars & Screeds resilient and Water Management positioned for infrastructure-led growth, but weak new build housing demand weighed on both Bricks & Masonry and Water Management performance in the first half.
鈥淲e remain focused on what we can control: service, cost, cash, working capital and disciplined capital allocation. We are not factoring a material market recovery into our second half assumptions, and the operational progress delivered to date, together with the strength of our diversified portfolio, supports the board鈥檚 confidence in the group鈥檚 outlook for the full year and our medium-term growth potential.鈥�
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