- Net debt trimmed through surplus land disposals
- Continued slump in home repair market
Judging by Marshall’s (MSLH) half-year results, the trading period through to 30 June might best be described as a “holding operation”. The manufacturer of sustainable building products still faces the dual challenge of a fall-away in new housing starts and the slump in housing repair, maintenance and improvement that followed on from the pandemic-linked surge in activity.
Indeed, in August 2021, we noted that “some of the biggest gains in the UK stock market have come from domestic companies exposed to the lockdown-induced boom in the home improvement market”. At that point, household demand for patio and paving slabs was…
