LONDON (ShareCast) - (Sharecast News) - Marshalls backed its full-year expectations on Wednesday as it hailed a 'resilient' performance in the nine months to 10 October.
Group revenue edged up 2% on the same period a year ago to £548m.

Revenue from landscaping products dipped 1%, while revenue from building products was 5% higher, driven by good performances in Water Management and Mortars.

Roofing products revenue was up 5% during the period, with Marshalls pointing to around 35% growth in Viridian Solar.

Marshalls said it still expects 2025 adjusted pre-tax profit of between £42m and £46m.

The company said it was continuing to make good progress on the landscaping performance improvement plan. It said the network optimisation and self-help measures announced at the half-year results, which are expected to deliver £9m in annual savings from 2026, were concluded as planned.

In addition, the board began consulting on exiting UK quarried natural stone processing in October, due to sustained losses and market changes. This is expected to improve profitability by around £2m in 2026 and beyond.

Chief executive Matt Pullen said: "Marshalls has delivered a resilient performance, with group revenues up two per cent year-on-year despite current market conditions, and our full year profit expectations remain unchanged.

"We continue to make good progress with our 'Transform & Grow' strategy and, looking ahead, Marshalls is well positioned to benefit from a market recovery and the structural growth drivers that underpin our businesses over the medium-term."

At 1040 GMT, the shares were up 4.7% at 180.04p.

Broker Peel Hunt, which rates the shares at 'buy' with a 290p price target, said: "2025 has been a tough year for the group due to difficult end markets and problems in the Landscape division.

"However, there looks to be clear light at the end of the Landscape tunnel and even a modest market recovery would see the group post a healthy improvement in profitability."

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