Marley Sustains Momentum Despite Subdued End Markets

MARLEY REVENUE increased by 11% to £98 million in parent company Marshalls’ trading update for the six months to 30 June 2025, sustaining the strong momentum reported in the second half of 2024.

This performance was primarily driven by the continued ‘exceptional’ growth of Viridian Solar, Marshalls says, which achieved approximately 50% revenue growth in the first half of the year.

Additionally, Marley Roofing delivered modest gains despite subdued end markets, growing its share in clay plain tiles and timber battens, while holding share in concrete tiles.

Marshalls Results

Marshalls Group recorded an overall total revenue of £319 million (2024: £307 million) – a year-on-year increase of 4%, with volume growth being partially offset by weaker pricing and product mix. However, activity levels in the company’s key end markets softened from the end of May, and the group says it “does not currently see any immediate catalyst for improvement in these for the remainder of 2025”.

Accordingly, the group has reduced its full year profit expectations and it now expects adjusted profit before tax to be in the range of £42 million and £46 million in 2025.

Beyond its roofing division performance, revenue from Marshalls’ landscaping division was weaker than expected, contracting by 1% year-on-year to £135 million (2024: £137 million). This was partly due to challenging markets with structural overcapacity in the UK supply chain continuing to exert downward pressure on prices, the company says.

Meanwhile, in its building products division, revenue grew by 5% to £86 million (2024: £82 million). In addition, Marshalls’ mortar business delivered good revenue growth with moderate improvements in build rates on housing developments favouring ready-to-use mortars. However, brick revenues contracted as the business maintained a ‘disciplined’ pricing strategy, “choosing to protect margin rather than chase volume at lower prices”.

Matt Pullen, Chief Executive of Marshalls plc, said: “The performance of our building and roofing products segments, which both delivered revenue growth in subdued end markets, demonstrates the benefits of the group’s acquisition strategy. However, our landscaping products segment reported a weaker than expected performance. We remain focused on executing the performance improvement plan in this segment, however the softening of demand, a weaker product mix and targeted price investment have reduced our group profit expectations for 2025.

“We have taken action to reduce costs and optimise our national manufacturing network in the first half of the year and are taking further action at pace in the second half, which together are expected to improve landscaping profitability materially in 2026.

“We remain focused on executing our ‘Transform & Grow’ strategy and are well positioned to respond swiftly to improving activity levels when our key end markets recover.”

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