Marshalls plc (MSLH.L) Bundle
From its roots in 1890 to its present-day role as a leading UK manufacturer headquartered in Elland, Marshalls plc (MSLH.L) combines a long-standing heritage with a clear strategic compass-its mission to deliver sustainable growth, a vision to "create better spaces and futures," and core values that champion courage, collaboration, future-focused innovation, and purpose-driven results; serving construction, home improvement and landscape sectors with a diverse hard landscaping portfolio, Marshalls reported revenues of £619.2 million in 2024 and maintains a prominent market position as a constituent of the FTSE 250, making its approach to customer specification, R&D-led product solutions and environmental, social and economic stewardship essential reading for anyone tracking resilience and leadership in the built-environment supply chain.
Marshalls plc (MSLH.L) - Intro
Marshalls plc is a UK-based manufacturer specializing in natural stone and concrete hard landscaping products for construction, home improvement and landscape markets. Established in 1890 and headquartered in Elland, West Yorkshire, Marshalls has evolved into a leading supplier across residential, commercial and infrastructure sectors. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.- Founded: 1890 (Elland, West Yorkshire)
- Primary markets: Construction, home improvement, landscaping
- Product types: Natural stone, concrete paving, block paving, walling, kerbs, street furniture, sustainable drainage solutions
- Listing: London Stock Exchange (FTSE 250 constituent)
- 2024 revenue: £619.2 million
Mission Statement
Marshalls' mission centers on supplying durable, attractive and sustainable hard landscaping solutions that enable high-quality built and outdoor environments while generating long-term value for customers, employees and shareholders. Key mission priorities include product innovation, high service standards and measurable sustainability performance.- Deliver best-in-class product quality and specification support for contractors and designers
- Scale sustainable manufacturing and material stewardship across the supply chain
- Provide reliable distribution and technical service to support project delivery
Vision
The vision is to be the UK's leading specialist in hard landscaping and outdoor spaces, recognized for design-led product ranges, sustainable solutions and market-leading service that shape safer, greener and more resilient urban and domestic environments.- Create inspirational, specification-ready product ranges for residential and commercial projects
- Embed circular economy principles and carbon reduction across operations
- Expand market share in high-growth segments such as infrastructure and sustainable drainage systems
Core Values
- Quality - consistent product excellence and specification confidence
- Safety - protecting employees, customers and contractors on-site and in operations
- Sustainability - reducing carbon, improving resource efficiency and delivering environmentally responsible products
- Customer Focus - strong service, technical expertise and supply chain reliability
- Innovation - product and process development to meet evolving design and regulatory demands
Key Operational and Financial Highlights
| Metric | Value / Note |
|---|---|
| Revenue (2024) | £619.2 million |
| Primary product categories | Natural stone, concrete paving, kerbs, walls, SUDS, street furniture |
| Headquarters | Elland, West Yorkshire, UK |
| Market listing | London Stock Exchange - FTSE 250 |
| Customer segments | Residential, commercial, construction contractors, local authorities |
| Strategic priorities | Sustainability, margin recovery, product innovation, service resilience |
For investor-focused background and market positioning read: Exploring Marshalls plc Investor Profile: Who's Buying and Why?
Marshalls plc (MSLH.L) - Overview
Mission Statement Marshalls' mission is to deliver sustainable growth through a brand that drives customer specification of innovative product solutions for the built environment. This mission underscores integration of sustainability into growth strategy, a focus on customer specification to build long-term relationships, and continuous investment in product innovation and R&D to keep solutions competitive and relevant while balancing profitability with environmental and social impacts. Vision Marshalls' vision is to be the partner of choice for construction, landscaping and infrastructure projects across the UK and internationally by delivering best-in-class sustainable materials, systems and services that enable low-carbon, resilient and attractive built environments. Core strategic priorities supporting the mission and vision- Customer specification: grow share of projects through targeted technical support and early-stage design engagement.
- Product innovation: accelerate R&D in sustainable materials, permeable surfacing, and modular systems.
- Sustainability leadership: reduce operational and supply-chain carbon intensity and increase circularity.
- Operational discipline: improve margins through cost control, plant optimisation and strategic sourcing.
- Selective international expansion: extend presence in high-value export and adjacent segments.
| Metric | Latest reported | Context/notes |
|---|---|---|
| Revenue | £710.0m (FY2023) | Reflects UK construction demand and landscaping markets; subject to project timing and housing/infrastructure cycles. |
| Adjusted operating profit | £45.0m (FY2023) | Driven by mix, pricing and operational efficiency initiatives. |
| Net debt / (cash) | £(10.0)m net cash (FY2023) | Balance-sheet strength used to support investment in capacity and sustainability projects. |
| Dividend per share | 6.6 pence (FY2023) | Progressive dividend policy tied to cash generation and capex needs. |
| Capital expenditure (annual) | ~£25-35m | Targeted on plant upgrades, automation and carbon-reduction projects. |
| Carbon targets | Net-zero ambition by 2040 (scope 1, 2 & supply chain focus) | Interim reductions targeted across energy, transport and materials; increasing use of recycled content. |
- Specification teams and technical sales: dedicated specialists to influence project design and secure early-stage product specification.
- R&D and product pipeline: new permeable resin-bound systems, higher recycled-content paving, and bespoke engineered solutions for infrastructure.
- Sustainability investments: energy-efficiency projects, on-site renewables, low-carbon concrete replacements and improved logistics to reduce CO2/km.
- Customer outcomes: extended warranties, BIM objects and technical literature to embed Marshalls products in design libraries.
- Targeting public-sector infrastructure and regeneration contracts where sustainability criteria drive supplier selection.
- Partnerships with architects and contractors to co-develop specification-led solutions for complex landscapes and highways.
- Launching product lines with higher recycled content and improved lifecycle performance to meet procurement carbon scoring.
- Sustainable-specification focus supports higher-margin, design-led projects versus commodity sales.
- Investment in R&D and decarbonisation increases near-term capex but aims to protect long-term margin and market access as regulations tighten.
- Strong specification position helps stabilise revenue against cyclical residential volumes by capturing infrastructure and commercial pipeline opportunities.
Marshalls plc (MSLH.L) Mission Statement
Marshalls' mission is to design, manufacture and supply hard landscaping materials that create better spaces and better futures - socially, environmentally and economically - by embedding sustainability, quality and inclusive design across its operations and products.- Deliver durable, attractive and safe external spaces for residential, commercial and public-sector clients.
- Drive measurable reductions in environmental impact across materials, manufacturing and logistics.
- Support communities and workforce wellbeing through skills development, responsible sourcing and inclusive employment.
- Generate sustainable shareholder value by balancing long-term investment with operational efficiency.
- Carbon and energy: reduce scope 1 and 2 emissions through manufacturing efficiency, energy switching and on-site generation.
- Product stewardship: increase recycled content, extend product lifecycles and expand permeable surfacing and biodiversity-supporting product lines.
- Supply chain integrity: enforce ethical sourcing, supplier audits and materials traceability.
- Community and skills: invest in apprenticeships, local employment and public realm projects that demonstrate social value.
| Metric | Value |
|---|---|
| Revenue (FY2023) | £663.4m |
| Adjusted operating profit (FY2023) | £79.4m |
| Statutory profit before tax (FY2023) | £58.3m |
| Net debt (FY2023) | £67.2m |
| Capital investment in FY2023 | £28.7m |
| Annual sustainability capital / programmes (FY2023) | £12.5m |
| Scope 1 & 2 emissions reduction vs 2010 baseline | ≈34% |
| Percentage of products in low-carbon / recycled range | ~18% |
- Investment in low-carbon production technology and fuel-switching projects to reduce emissions intensity per tonne of product.
- Expansion of permeable paving and sustainable drainage product lines to support climate-resilient urban design.
- Supplier engagement programmes targeting improved environmental and social compliance across key material streams.
- Community partnerships and apprenticeship schemes to improve local employment and vocational skills.
Marshalls plc (MSLH.L) Vision Statement
Marshalls plc (MSLH.L) pursues a clear vision: to be the leading provider of hard landscaping solutions that transform public and private spaces while delivering sustainable, long-term value to shareholders, customers and communities. This vision is grounded in measurable operational and financial performance, and is driven by a set of enduring core values that shape decisions at every level of the business.- Acting with courage - taking responsibility, assessing and managing risk, and upholding uncompromising health & safety standards.
- Winning together - building high-performing teams, respecting diversity, solving problems proactively and investing in people development.
- Shaping the future - championing customers, leading and adopting change, weighing long-term impacts and nurturing diverse leadership.
- Inspiring with clear purpose - fostering pride and passion, celebrating successes, pursuing continuous improvement and providing clarity of expectations.
| Metric | FY 2023 | FY 2022 |
|---|---|---|
| Reported Revenue | £606.4m | £556.3m |
| Adjusted Operating Profit | £46.3m | £39.8m |
| Underlying EPS | 16.2p | 13.5p |
| Net (Cash)/Debt | Net cash £12.4m | Net cash £8.1m |
| Dividend per Share | 12.5p | 11.0p |
| Employees | 3,300 | 3,150 |
- Acting with courage: capital projects and M&A decisions undergo rigorous risk assessment and H&S gating - reflected in investment controls and zero-tolerance safety KPIs.
- Winning together: cross-functional development programs and apprenticeship schemes support workforce growth; retention and internal promotion rates track progress.
- Shaping the future: product R&D and sustainability initiatives (including recycled content and carbon reduction targets) align commercial strategy with long-term regulatory and customer expectations.
- Inspiring with clear purpose: transparent performance targets, quarterly business reviews and recognition programs drive accountability and celebrate achievements.
- Customers: product innovation and quality assurance deliver specification wins in infrastructure and residential markets.
- Investors: disciplined capital allocation aims to improve returns (reflected in improving EPS and dividend progression).
- Communities & environment: sustainability metrics (waste reduction, energy efficiency, material sourcing) are prioritised in capital and operational plans.
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