Marshalls - Marley a welcome contributor

Davy Research
/Read Important Disclosures

Landscape Products remains at the centre of a storm of weak private housing RMI and shifting consumer priorities; it may be a number of months before this truly inflects. Marley, however, is already delivering value to the group and, as we previously flagged, we think that its integrated solar offering is a material opportunity for future growth. The focus on delevering is positive, particularly in the context of a volatile operating backdrop.