Lords Group Trading PLC (AIM:LORD) said it remains on track to meet expectations for the current year, with trading since the May results statement continuing in line with management forecasts.
Chairman Gary O’Brien told shareholders at the company’s AGM that merchanting volumes remain ahead of last year, supported by strong performance from new branches in Bicester, Maidstone and Mansfield.
"In Plumbing & Heating, as previously communicated, boiler volumes were pulled forward into the first quarter of the current year prior to industry-wide price increases which were implemented in April 2025 – with volumes in the two months since being resultantly lower," he said.
The group recently acquired the trade and assets of CMO Group, the UK’s largest online-only construction materials retailer. O’Brien said the deal combines Lords’ infrastructure with CMO’s digital-first model, accelerating the Group’s online capabilities.
"The Group continues to focus on growth, margin accretion and cost control," he added. "Three branch openings, two strategic acquisitions since October 2024, and a significantly stronger balance sheet after the property sale & leaseback announced in April 2025, have positioned the Group well for any sustained improvement in the RMI market."
He noted that the nine online CMO Superstores added to the Group’s platform broaden the customer offer and enhance service delivery.
"Performance to date has been as expected and, although the seasonally significant trading period lies ahead, the Board is confident that the Group is on track to meet its expectations for FY25," O’Brien concluded.
Lords Group Trading plc is a UK distributor of building materials. The company operates across the construction materials and plumbing & heating markets, with a focus on branch expansion, digital development and margin improvement.