Marley Revenue Boosted by Solar Division

MARLEY, which makes up the Roofing Products division of Marshalls plc, saw a growth of 12% in the third quarter of this year, boosted by its solar offering.

In a trading update to 30 September 2024, Marley Roofing Products’ revenue was £139 million, marginally ahead of the prior year (£138 million).

Within the roofing division, Viridian Solar surged by around 70% in Q3. Marshalls attributes the increase to ramped up activity arising from Part L building regulations focused on increasing energy efficiency, and weaker prior year comparatives as new build housing slowed in the second half of 2023.

Marshalls’ group revenue during the period dropped by 9% to £476 million, compared to £528 million the year prior.

Though group revenue dropped by 3% in Q3, Marshalls said it was a “material improvement” over the 12% decrease in H1.

Building and Landscaping Divisions

In Marshalls other divisions, trading performance saw a 4% drop in revenue for Building Products’ to £128 million, with Q3 being in line with 2023. The Q3 performance comprises growth in the drainage and bricks businesses, which was offset by a contraction in revenues in the mortars and aggregates businesses.

Landscape Products’ revenue in the period was £209 million, representing a like-for-like reduction of 17% compared to 2023 (£257 million). The like-for-like rate of contraction slowed in the third quarter to 13% from the 19% reported in H1, principally driven by a moderation in the decline in new house building and private housing RMI end markets.

Outlook

In anticipation of a continued improving demand environment for the Group’s products, Marshalls expects that profit for the full year will be in line with its previous expectations.

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