Marshalls revenue soars to £719m, helped by acquisition

Marshalls plc, the Elland, West Yorkshire-based stone and landscaping firm, said its revenue for the year ended December 31, 2022, was £719 million, which represents year-on-year growth of 22% including the benefit of the acquisition of Marley.

In a full year trading update, Marshalls said that on a like-for-like basis, group revenue growth was 1%.

“The group’s performance in the period since the trading update on 7 October 2022 has been as anticipated and the board expects to deliver adjusted profit before tax for the full year that is in-line with current market expectations,” said Marshalls.

Company compiled market consensus for 2022 adjusted profit before taxation is £90.4 million with a range of £89.8 million to £91.1 million.

Marshalls shares rose about 5%.

The group said Marshalls Landscape Products experienced tough market conditions due to its exposure to the more discretionary elements of private housing RMI (repair, maintenance, and improvements), delivering revenue of £394 million (2021: £425 million), which represents a reduction of 7%.   

Marshalls Building Products traded robustly in 2022, despite experiencing some slowing of activity in the final quarter of the year with poor weather disrupting construction sites in December. Revenue grew 17% to £193 million with a particularly strong performance from the bricks and masonry business.

Marley Roofing Products delivered revenue of £132 million in the eight months of ownership, which represents growth of 6% compared to the corresponding period in 2021.