Marshalls PLC releases 2025 full year trading update on January 19, 2026

ncrease of four per cent. Revenue growth moderated to three per cent in the second half of the year as the strong growth in Water Management was partially offset by a further softening in Bricks.

Roofing Products’ revenue was £194 million (2024: £186 million), which is an increase of four per cent, driven by growth of approximately 32 per cent in Viridian Solar, partially offset by a reduction in Marley. Viridian Solar showed sequential half-on-half revenue growth during 2025. As expected, year-on-year revenue growth moderated to around 18% in the second half due to the Part L energy efficiency regulations maturing.

The Landscaping Products improvement plan saw encouraging progress resulting in volume and market share growth. Actions taken in 2025, including exiting UK quarried natural stone processing, are expected to deliver around £11 million of annualized savings, with about £3 million realized in 2025.

The Group’s balance sheet remains strong, with pre-IFRS16 net debt of £138 million as of the year-end. It has ample liquidity for strategic and operational growth, with £125 million of headroom on its syndicated bank facility.

Looking ahead, the Group expects to report full-year adjusted profit before tax in-line with market expectations, despite a challenging market environment. The Board remains focused on operational improvements through its ‘Transform & Grow’ strategy to position itself well for a market recovery and structural growth drivers over the medium term.

The Group will release its results for the year ended 31 December 2025 on 16 March 2026.

CEO Simon Bourne commented, “Marshalls showed resilience, with revenue growth returning despite market challenges, and profits meeting market expectations. Progress on our ‘Transform & Grow’ strategy gives me confidence that the Group is primed to benefit from market recovery and long-term growth drivers.”

Company compiled consensus for adjusted profit before tax is £43.6 million, with a range of £42.0 million to £44.4 million.