March 18 (Reuters) - British landscaping and roofing products supplier Marshalls flagged lower revenue in 2024, pulled down by a slower-than-expected recovery in the construction market, and also reported a 41% slump in its annual profit.

The British housing market has seen signs of stability at the start of 2024 on easing mortgage rates after battling subdued demand for most of last year, but the delay by the Bank of England (BoE) in lowering interest rates and incessant macro-economic concerns have tempered hopes of a better-paced recovery.

Housing data for the first two months of the year lifted recovery hopes, but more recently, the borrowing costs have risen again and suppliers to the construction industry have been relatively more cautious than housebuilders.

Marshalls forecast activity levels in the construction industry to remain subdued in the first half of the year, followed by a modest recovery in the second-half period on the back of improved macro-economic environment and forecast annual profit to be at a similar level to 2023.

The company reported a pre-tax profit of 22.2 million pounds ($28.3 million) for the year ended Dec. 31, compared with 37.2 million pounds a year earlier.

Travis Perkins, Britain's biggest supplier of building materials, had flagged earlier this month that the group was planning for another year of challenging demand due to a slowdown in new-build housing and renovations.

($1 = 0.7854 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Savio D'Souza and Sherry Jacob-Phillips)