Marshalls, who provide landscaping materials for the UK domestic market has said in a statement released the the London Stock Exchange that the outlook for 2009 looks uncertain after reporting fifteen percent full year decline in domestic landscaping.
Group revenues fell six per cent at £378 million (£403 million in 2007). Borrowings increased, via 'organic growth capital expenditure', to £112 million (£97 million in 2007) with closures of concrete manufacturing plants inCannock in the West Midlands and Sawley in the East Midlands, adding £12 million to costs - although Marshalls say that £5 million has been clawed back through the release of stock.
What I find worrying is Marshalls seem to be reacting to market conditions 'after' the event and its decision to reduce efforts in the domestic market in favour of the Public Sector and Commercial market and it expects to reduce the design, managed installations and Display Centres.
Public sector works is surely the last area set to be hit hard and my focus now, after weathering a good part of the current financial storm, would actually be in domestic landscaping.
Maybe, and excuse the pun, Marshalls are caught between a rock and a hard place because of the previous focus on an area of landscaping that will surely be effected for a considerable time.
Garden designers and landscapers will be shifting to a minimalist approach with an emphasis on softer garden features. Lawns, vegetable areas, children's play areas and simple soft seating and eating areas will be very much in demand.
My aim would be to retain the display areas and start designing small patios with integral eating and relaxing features and partner with outdoor furniture makers with a view to promoting living and steer emphasis away from gardens being a status symbol on a league table.
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