Marshalls have released their Half Year Results and Outlook, outlining the company’s performance and new strategic positioning for the future
Marshalls have released their Half Year Results, detailing a mixed bag of performance and the resulting changes in strategy that will be taking place.
The results are for the half way point of 2024, and are compared to the second half of 2023 to track performance.
Revenue is down
Marshalls’ revenue for the first half of 2024 (H1 2024) is down by 13%, with drops in adjusted operating profits (-19%), adjusted PBT (-20%), and adjusted basic EPS (-23%) among the reported financials.
However, the company has also reduced their debt by nearly £29m.
This is largely due to the company struggling in certain markets. The operating profit for the group is down by 18.8% on the last report.
Marshalls’ Half Year Results detail new strategy
In spite of less than stellar performance in the last half a year, the company is optimistic for the medium and long term, detailing changes to be made to bring about growth.
Part of the optimism is due to the government gradually building up legislation to support construction and build 1.5m homes.
The anticipated growth in building means that demand for Marshalls products and services is expected to rise as well.
Marshalls’ more recent acquisition, such as Viridian Solar and acquisitions in water management, is also expected to profit from this rise, as more and more sustainable solutions are sought after.
Marshalls’ Half Year Results also highlights the increasing adoption of concrete bricks over traditional bricks as a more sustainable option, and with their own carbon-sequestered bricks, they are confident that both their investments and their products will bring them growth, especially into 2025.
With that, they will particularly lean into their landscaping and roofing assets, as well as developing/offering sustainable solutions.
