Marshalls (MSLH)

Sector:

Construction and Building Materials

Index:

FTSE 250

315.00p
   
  • Change Today:
    -2.50p
  • 52 Week High: 358.00
  • 52 Week Low: 233.20
  • Currency: UK Pounds
  • Shares Issued: 252.97m
  • Volume: 216,227
  • Market Cap: £796.85m
  • RiskGrade: 148
  • Beta: 1.65

Marshalls warns on profits, to cut 250 jobs

By Michele Maatouk

Date: Monday 31 Jul 2023

LONDON (ShareCast) - (Sharecast News) - Building products manufacturer Marshalls warned on profits on Monday and said it will cut around 250 jobs, as it announced the closure of one of its factories, pointing to high inflation, rising interest rates and weaker consumer confidence.
In an update for the six months to the end of June, Marshalls said it expects to report revenue of £354m, up 2% on the same period a year earlier. On a like-for-like basis, however, group revenue fell 13%.

Meanwhile, adjusted pre-tax profit is expected to be around £33m, down from £45m.

"This result has been delivered against the backdrop of challenging market conditions with persistent weakness in new build housing and private housing RMI, which are key end markets for the group," it said.

"The sustained high levels of inflation, increasing interest rates and weak consumer confidence means that the board anticipates the group's performance in the second half will be below its previous expectations."

Marshalls also announced the closure if its factory in Carluke, a reduction in shifts and capacity in other facilities, and a restructuring of its commercial team.

"Regrettably, these changes are expected to result in a reduction of approximately 250 roles in addition to around 150 roles that were removed in the second half of 2022," it said.

"These actions are expected to deliver annualised savings of approximately £9m, with around 40% of this benefit being realised in 2023. The board has reduced its capital expenditure plans without impacting critical projects, is executing a programme of surplus land disposals, and has continued to focus on efficient working capital management in order to reduce the group's net debt."



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Marshalls Market Data

Currency UK Pounds
Share Price 315.00p
Change Today -2.50p
% Change -0.79 %
52 Week High 358.00
52 Week Low 233.20
Volume 216,227
Shares Issued 252.97m
Market Cap £796.85m
Beta 1.65
RiskGrade 148

Marshalls Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
41.69% below the market average41.69% below the market average41.69% below the market average41.69% below the market average41.69% below the market average
57.89% below the sector average57.89% below the sector average57.89% below the sector average57.89% below the sector average57.89% below the sector average
Price Trend
52.41% above the market average52.41% above the market average52.41% above the market average52.41% above the market average52.41% above the market average
12.82% below the sector average12.82% below the sector average12.82% below the sector average12.82% below the sector average12.82% below the sector average
Income
45.06% below the market average45.06% below the market average45.06% below the market average45.06% below the market average45.06% below the market average
58.62% below the sector average58.62% below the sector average58.62% below the sector average58.62% below the sector average58.62% below the sector average
Growth
59.12% below the market average59.12% below the market average59.12% below the market average59.12% below the market average59.12% below the market average
61.11% below the sector average61.11% below the sector average61.11% below the sector average61.11% below the sector average61.11% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Marshalls Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Oct-24 06-Jun-24
Paid 02-Dec-24 01-Jul-24
Amount 2.60p 5.70p

Trades for 21-Nov-2024

Time Volume / Share Price
16:40 10,000 @ 313.97p
16:40 10,000 @ 313.50p
16:35 56,645 @ 315.00p
16:35 1 @ 315.00p
16:35 424 @ 315.00p

Marshalls Key Personnel

CFO Justin Lockwood
CEO Matt Pullen

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