DAVY VIEW

There are no surprises in Marshalls’ results for 2025, and all attention is on the road ahead. Without supportive end-markets, the objective for Marshalls this year will be to deliver on previously outlined cost savings targets under the stewardship of a new CEO. This forms part of a wider strategy that seeks to improve performance through a more disciplined commercial approach and flatter structure. This is essential as restoring confidence in earnings expectations is required if the stock is to arrest a decline of over 75% in the past four years.