Shares in building materials supplier Lords Group Trading PLC (AIM:LORD) jumped 10.8% to 25.49p after it said underlying profits would meet market expectations and net debt fell 55% in the past year.
Adjusted EBITDA is expected to be around £14.5 million for the 2025 calendar year, as group revenue rose 8.3% to £473 million.
Merchanting sales increased 6.0% to £227 million, supported by three new branches. Plumbing and heating revenue slipped 1.6% to £220 million, though renewables rose 57% year-on-year.
Online merchant CMO, acquired in June, contributed £26 million in revenue and was profitable in the second half.
“We reduced net debt significantly by £17.9 million in the year as we optimised our capital allocation,” chief executive Shanker Patel said.
“We remain focused on controlling our costs and improving working capital.
"Whilst the market remains subdued entering 2026, we believe the group is well positioned to benefit from operational leverage as volumes improve."