Marshalls backs FY expectations despite uncertain macro outlook

13th May 2026 08:17

(Sharecast News) - Marshalls backed its full-year expectations on Wednesday while acknowledging the potential for volatility due to the Iran war.

In an update for the four months to 30 April, the company - which supplies hard landscaping, building, and roofing products - said trading was in line with the board's expectations, with group revenue down 1% on the same period a year earlier at £205m.

In the landscaping products segment, revenue was £86m, in line with the previous year. Marshalls said the business has re-gained market share without eroding margins, supported by strengthened customer relationships, a simplified product portfolio and an improved service offering.

It said execution of the performance improvement plan continues to deliver progress, and the business remains on track to deliver the previously announced £11m of annualised cost savings by the end of the year.

Revenue from the building products arm was also in line with the prior year at £56m, while the roofing products business saw a 3% dip to £63m.

The company said the macroeconomic outlook remains uncertain and there is potential for ongoing volatility from the Middle East conflict to further impact trading conditions.

"Nevertheless, the group's performance in the four months to April 2026, alongside its diversified portfolio, strong balance sheet and disciplined execution of its 'Transform & Grow' strategy, continue to support the board's expectations for the full year, which remain unchanged," it said.

Chief executive Simon Bourne said: "The disciplined execution of our 'Transform & Grow' strategy is strengthening our market position, improving service and operational performance, alongside maintaining a tight focus on cash, cost and capital allocation.

"In Landscaping, the performance improvement plan continues to deliver progress; in Water Management, we are building momentum; and across Roofing, disciplined commercial and operational execution is supporting performance. This progress means our expectations for the full year remain unchanged and reinforces our confidence in the strategic direction of the group and our ability to deliver sustainable, profitable growth over the medium term."

At 0817 BST, the shares were up 1.9% at 128.24p.

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