Sales at building materials suppliers Marshalls have fallen by 10% in the last quarter, with demand falling fastest in the housing sector.
Marshalls said their sales to the sector were 15% down in the quarter to October 31 compared with last year. The company has also seen a 5% drop in sales to the public sector and commercial markets.
In response, Marshalls say they plan to accelerate the cost-cutting programme already announced. They have already saved around £4m with this year’s closures of factories at Cannock and Sawley.
However, the company have bought a natural stone paving and walling business in south Wales and limestone business in the Cotswolds for a total of £12m in the last quarter.