Landscaping supply group Marshalls Plc said it expected to report annual earnings in-line with market expectations despite subdued end markets and "prolonged" pre-Budget uncertainty during the second half which saw revenues come in flat.
In a trading statement published on Monday, the company added that the outlook for 2026 "continues to be uncertain" but was confident that cost cutting last year would deliver an improved financial performance.
Revenue for the year to December 31 is expected to grow by 2% to £632m, with growth in building and roofing products offsetting a fall in landscaping sales.
The company said "encouraging" progress was made on its plan to turn around the landscaping products unit, resulting in volume and market share growth.
"The network optimisation and self-help actions taken in 2025, including exiting UK quarried natural stone processing, were concluded as planned in the second half of the year," Marshalls said.
"These actions are expected to deliver total annualised savings of around £11m, of which around £3m were realised in 2025."
Marshalls expects adjusted profit before tax in a range of £42m to £44.4m, according to a company compiled consensus.
"We have made good progress with our 'Transform & Grow' strategy and with an increased focus on execution, I am confident that the group is well positioned to benefit from a market recovery and structural growth drivers over the medium term," said new chief executive Simon Bourne.
Reporting by Frank Prenesti for Sharecast.com