Building materials supplier Marshall Company believes that the outlook for the UK housing market recovery is bleak.

Marshall & Company stated that the expected recovery in the UK housing market has not materialized yet. CEO Matt Plen said in an interview that despite consecutive interest rate cuts by the Bank of England making mortgages more affordable, people lack confidence in the UK economy, which "is holding people back" as they wait for the autumn budget for more clarity. Plen said, "From June to July, we really haven't seen any substantial improvement. Earlier this year, there were encouraging signs in house construction but those signs have weakened, and we haven't seen much improvement in the new housing market and we don't expect a significant turnaround in the second half of this year." The company reported a 17% decline in pre-tax profit for the first half of 2025 after adjustments to some projects. Its stock in London fell by up to 3.7%. The company lowered its performance guidance last month, and now expects full-year pre-adjusted pre-tax profits to be between 42 million and 46 million in 2025. This will be the lowest level since 2020 when the COVID-19 pandemic disrupted global supply chains and led to a halt in house construction.