Marley Returns to Growth in 2024 Marshalls Reports

A RETURN to growth is reported for Marley, the roofing products supplier in parent company Marshalls’ trading update for 2024.

Roofing products revenue increased by 4% during 2024 to £186 million (up from £180 million in 2023).

Marley Returns to Growth in 2024

Roofing division revenue growth in Q4,24 was 15%, with its solar arm, Viridian Solar, accounting for 75% of the increase. This stemmed from the carbon emission reduction requirements of Part L of the building regulations stimulating demand for solar.

Overall, the landscaping, building and roofing supplier saw a year-on-year reduction of 8%. Marshalls’ revenue for 2024 totalled £619 million, however the Board expects adjusted profit before tax for 2024 to be within expectations of £52-53.7m. Its Transform & Grow strategy is credited for maintaining profits.

Marshalls says profitability in 2025 will be ahead of 2024 as the bottom-line benefits from its cost cutting, but this depends on the pace of market recovery.

Divisional Trading Performance

Beyond Marshalls roofing division performance, revenue from its landscaping section was £268 million, down 17% from £321 million in 2023. The reduction is attributed to lower demand from house builders and continuing subdued activity in private housing RMI.

In its building products segment, revenue was £165 million, a 3% fall from £170 million in 2023. This was also attributed to weak demand in new build housing.

Market recovery is expected to build progressively through the year, during which Marshalls says it will maintain its disciplined approach to cost management.

Matt Pullen, Chief Executive of Marshalls plc, said: “Despite subdued market activity throughout the year, our results underline the strength of our diversified portfolio of businesses.

“Looking ahead to 2025, our focus will be on the execution of our new Transform & Grow strategy, capitalising on identified growth opportunities, continuing to drive performance in our core business, and maintaining a disciplined approach to investments and cost management.”

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