LORDS GROUP TRADING PLC - Full year results for the year ended 31 December 2025

Lord’s Group Trading PLC delivered a resilient FY2025 investor update, reporting record revenue growth of 8.3% to £472.8 million despite subdued UK construction and RMI market conditions. The Group achieved like-for-like revenue growth of 0.7%, supported by market share gains in merchanting, strategic branch expansion, and the acquisition of digital building materials platform CMO. Gross profit increased 9.2% to £93 million, while adjusted EBITDA remained robust at £21 million, reflecting disciplined pricing, operational efficiencies, and continued investment in growth initiatives. The plumbing and heating division improved gross margins by 60 basis points to 13.1%, driven by a higher-margin product mix and a 57% increase in renewables revenue. Lord’s also significantly strengthened its balance sheet, reducing net debt by 59% to £13.4 million and securing new £65 million financing facilities to support future growth and M&A opportunities. Management highlighted strong operating leverage across the business, with expectations that incremental revenue growth will deliver disproportionate profitability improvements as market conditions recover. The integration of CMO enhances the Group’s digital capabilities and national reach, positioning the company to benefit from the structural shift toward online purchasing in the building materials sector. Looking ahead, Lord’s remains focused on driving like-for-like sales growth, expanding margins, improving efficiency, and maintaining disciplined capital allocation amid ongoing macroeconomic uncertainty.