0R15 9025.0 0.0% 0R1E 9410.0 0.0% 0M69 None None% 0R2V 247.99 9682.643% 0QYR 1567.5 0.0% 0QYP 439.3701 -2.9016% 0RUK None None% 0RYA 1597.0 1.2682% 0RIH 195.55 0.0% 0RIH 191.4 -2.1222% 0R1O 225.5 9683.0803% 0R1O None None% 0QFP 10475.8496 107.8542% 0M2Z 252.573 0.2373% 0VSO 33.0 -7.3164% 0R1I None None% 0QZI 622.0 0.0% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 222.05 -4.1318%

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Marshalls PLC (LSE: MSLH) Reduced Net Debt to GBP 149Mn in Q3FY24, Confirms Full-Year NPAT Guidance

Highlights

Marshalls PLC (LSE:MSLH) provides sustainable solutions for the construction industry. It operates across three divisions: Marshalls Landscape Products, Marshalls Building Products, and Marley Roofing Products.

Despite challenging end markets, the group delivered a resilient performance with a year-to-date (as of 16 October 2024) revenue of GBP 476 million, down from GBP 528 million in 2023. The third quarter of the financial year 2024 (Q3FY24) saw a 3% revenue decline, a notable improvement from the 12% drop in the first half (H1FY24). Roofing products achieved double-digit growth, while building products remained flat, and landscape products saw a smaller contraction. Additionally, the group's pre-IFRS16 net debt decreased to GBP 149 million, and the board remains confident that full-year profits will meet previous expectations.

Regarding divisional performance, landscape products experienced a like-for-like revenue decline of 19% in H1FY24, 13% in Q3FY24, and 17% YTD. Building products reported a 6% decline in H1, no change in Q3, and a 4% drop YTD. Roofing products showed a 5% decline in H1, followed by a 12% increase in Q3, with overall YTD performance remaining flat. As a result, the group posted a 12% decline in H1, a 3% decline in Q3, and a 9% decline YTD.

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