Date published 15 March 2023
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Today we announced our full year results for the year ended 31 December 2022, with revenues increasing by 22% to £719.4 million and adjusted profit before tax rising by 23% to £90.4 million compared to 2021. You can find further details in the announcement in our Investor Centre.
Commenting on the results, Martyn Coffey, Chief Executive, said:
“Marshalls reported a record financial performance in 2022 against challenging market conditions. This performance demonstrates the benefit of the Group’s deliberate diversification strategy, illustrated by the acquisition of Marley in 2022 and other acquisitions in recent years that now form the core of our Building Products segment.
We took decisive action to reduce our capacity and cost base in 2022 in response to a contraction of demand in our Landscape Products business, and we will continue to focus on maintaining flexibility to respond to evolving market conditions and executing self-help initiatives as required.
Our strategy is underpinned by our strong market positions, established brands and focused investment plans to drive ongoing operational improvement. Notwithstanding short-term challenges, the Board remains confident that the Group is well placed to deliver profitable long term growth when market conditions improve and continues to focus on its key strategic initiatives.”