Marshalls (MSLH): Landscaping performance improvement plan
This situation live
MSLH Marshalls
12 Nov 2025 · £9m savings actioned; stone exit consultation under way · −3% until the next step
In October, the Board also began consulting on exiting UK quarried natural stone processing due to sustained losses and market changes.
19 Jan 2026 · Actions concluded; stone exit completed · −12% until the next step
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.
16 Mar 2026 · Savings and mix actions underway, £3m delivered in 2025 · −12% until the next step
Cost reduction programmes implemented in 2025 will deliver annualised cost base savings of £11 million, with £3 million realised in-year and the remaining £8 million to be delivered in 2026.
13 May 2026 · Savings on track; share regained, volumes in line · +31% until the next step
Execution of the performance improvement plan continues to deliver progress, and the business remains on track to deliver the previously announced £11 million of annualised cost savings by the end of
10 Aug 2026 · Moving from reset to delivery; profit recovering · +3% since
Landscaping Products moving from reset to delivery, with improved service and customer engagement supporting market share momentum and the beginning of a recovery in profitability.
Landscaping performance improvement plan
Moving from reset to delivery; profit recovering
DEC31
Next: Deliver £11m annualised savings by end of FY26 in 68 days
Every step · 5
- 12 Nov 2025 £9m savings actioned; stone exit consultation under way – In October, the Board also began consulting on exiting UK quarried natural stone processing due to sustained losses and market changes. ↗
- 19 Jan 2026 Actions concluded; stone exit completed – The network optimisation and self-help actions taken in 2025, including exiting UK quarried natural stone processing, were concluded as planned in the... ↗
- 16 Mar 2026 Savings and mix actions underway, £3m delivered in 2025 – Cost reduction programmes implemented in 2025 will deliver annualised cost base savings of £11 million, with £3 million realised in-year and the remaining... ↗
- 13 May 2026 Savings on track; share regained, volumes in line – Execution of the performance improvement plan continues to deliver progress, and the business remains on track to deliver the previously announced £11... ↗
- 10 Aug 2026 Moving from reset to delivery; profit recovering – Landscaping Products moving from reset to delivery, with improved service and customer engagement supporting market share momentum and the beginning of a... ↗
What is happening
Marshalls: Landscaping performance improvement plan – Moving from reset to delivery; profit recovering. ['Moving from reset to delivery; profit recovering']
- In short
- Landscaping improvement plan began in 2025, with £3m of savings delivered that year. The H1 2026 results show the plan moving from reset to delivery: profitability has begun to recover, market share has risen over 12 months and Net Promoter Scores are up about 11 points. The £11m annualised savings remain on track for end-FY26.
- Announced
- 12 Nov 2025 · £9m savings actioned; stone exit consultation under way
- Latest
- 10 Aug 2026 · Moving from reset to delivery; profit recovering
- Savings target
- £11m annualised cost savings by end of FY26, on track
- Delivered so far
- £3m delivered in 2025 (per earlier announcements)
- Revenue, 4 months
- £86 million, in line with 2025
- Market position
- Market share re-gained without eroding margins
- Volumes
- In line with expectations
- Profitability
- Beginning of a recovery in Landscaping profitability in H1 2026
- Market share
- Increased across core Landscaping categories over the last 12 months
- Customer scores
- Net Promoter Scores improved by around eleven percentage points
What comes next
Deliver £11m annualised savings by end of FY26 (31 Dec 2026).
From the company's own announcements. Not investment advice.
Briefing
Marshalls in 4 minutes
Marshalls, founded in the late 1880s, makes paving, bricks, roof tiles, solar roofing and drainage products for UK construction. Its original paving business has been squeezed by weak housebuilding and home...
- Act 1Housing slump and a cost reset, 2023
- Act 2Transform & Grow, and a hoped-for recovery, 2024
- Act 3Landscaping stumbles, 2025
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