Lords outlook supported by acquisitions, new branches

Building materials distributor Lords has said that trading over the first half has been in line with expectations, though the recent acquisition of online retailer CMO and new branch openings have brightened the outlook.

Lords Group Trading
20 June 2025 09:15:35

Source: Sharecast

The company, which two weeks ago announced the purchase of the UK's largest online-only construction products retailer, said the deal "accelerates the group's digital offering to the construction materials and plumbing and heating markets".

In the plumbing and heating division, Lords said that first-quarter volumes were higher as boiler sales were pulled forward ahead of industry-wide price increases implemented in April, so things have slowed down in the second quarter.

However, in merchanting, volumes are up on last year despite challenging market conditions, while new branches in Bicester, Maidstone and Mansfield are "contributing more strongly than had been anticipated during their start-up phase", according to non-executive chair Gary O'Brien.

"Three branch openings, two strategic acquisitions since October 2024, and a significantly stronger balance sheet after the property sale and leaseback announced in April 2025, have positioned the group well for any sustained improvement in the [repair, maintenance and improvement] market," O'Brien said.

The stock was up 0.8% at 43.85p by 0900 BST.

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