The official sponsor of the International Chelsea Flower Show has decided that it will not be exhibiting at Glee exhibition this year.
In a statement, Gemma Chappell, Domestic Marketing Manager of Marshalls Plc said "we did notice that the footfall seemed much lower than previous years. To try and clarify this we did ask the event organisers for visitor numbers and profiles but unfortunately they did not provide any"
The decision by Marshalls to turn it's back on Glee comes at a time when the landscaping market in general is going through a tough period.
Six months results which were out at 7.00 am this morning shows half yearly profits to the 30th June 2008 are down 17.1%.
The Marshalls domestic market remains challenging too with this excerpt giving little encouragement for a change in sentiment in the short to medium term.
"In the Domestic market New Build is weak and DIY was affected by a difficult Easter but installed patios and driveways, which provide the majority of the volume, have been much more robust.
The latest installer order books at the end of June were 8.2 weeks. However, the uncertainty in the Domestic market is continuing as the general economic picture deteriorates."
I notice that some of the profit fall was cushioned by selling off property but debt has increased significantly "At 30 June 2008 net debt was £97.9 million (2007: £73.5 million) with gearing of 48.1 per cent (2007: 36.8 per cent)."
The market will remain uncertain and I do not share the view that the commercial market will remain robust.
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