Marshalls, best known for its concrete bricks and blocks, has seen its revenues steadling decline ever since paying 拢535m for roof tile producer Marley in April 2021.
In the first year after that acquisition revenues spiked to 拢719.4m before falling to 拢671m in 2023 and 拢619m in 2024.
Results out today, however, showed a very modest rebound, with a 2% revenue increase in 2025 to 拢632m.
This reflected growth of 4% in both Building and Roofing Products, partially offset by a modest contraction of 1% in Landscaping Products.聽
Landscaping Products delivered a 拢600,000 profit from 拢266m revenue. Building products made a 拢13m operating profit on 拢172m revenue. Roofing products made a 拢50m operating profit on 拢194m revenue, with a drop in sales of Marely tiles offset by growth in panel sales by Viridian Solar.
While 2% overall growth for the group is less than half 2025鈥檚 RPI rate of 4.1%, it was sufficient for new chief executive Simon Bourne to assert that the plans were working.
And even though pre-tax profit was down by 55% at 拢17.7m (2024: 拢39.4m), he could at least say that it was in line with expectations.
Bourne, previously chief commercial officer, was appointed interim chief executive at the end of November 2025 when Matt Pullen was pushed out after less than two years in post. Bourne was then given the job on a permanent basis seven weeks later.
However, given the state of the market, no significant growth is expected this year either in either revenue or adjusted profits.
Bourne said: "We have acted decisively to strengthen Marshalls' foundations as part of our 'Transform and Grow' strategy. These actions have resulted in a sharper focus on execution with greater emphasis on delivery and commercial discipline alongside more value-driven activity across the business.聽 We are not simply waiting for a cyclical recovery.聽 As a result, the business has returned to revenue growth while adjusted profit before tax was in line with the guidance set out in July last year.
鈥淚n Landscaping Products, we have made significant progress on our near-term improvement plan and put the building blocks in place to support a material increase in operating margins. In Roofing and Building Products, we have continued to position the business to capture regulatory and infrastructure-led demand.
鈥淥ur strategic direction remains unchanged, and our immediate focus is on executing against our plan with greater discipline, in order to deliver sustainable, profitable growth over the medium term."