3rd Feb 2023 10:55
CMO Group PLC - online building materials retailer based in Plymouth, England - Expects to report total sales growth of 8.9% to GBP83.1 million for 2022 from GBP76.3 million a year ago. Says like-for-like sales has continued to grow, with a year-on-year improvement of 2% "despite widely reported industry headwinds, which was 32% above pre-pandemic levels". Expects adjusted earnings before interest, tax, depreciation and amortisation, however, to be GBP2.1 million, down 43% from GBP3.7 million a year ago. Cash stands at GBP6.2 million at period-end.
Chief Executive Officer Dean Murray says: "We will continue to drive penetration across sectors where we have existing operational strength and also seek new verticals to take advantage of our differentiated proposition which continues to deliver an unrivalled breadth of products, a differentiated delivery proposition and uncompromising customer service. As we look to 2023, despite market conditions remaining challenging, we are confident that we can deliver further progress."
Current stock price: 28.40 pence each, up 1.4% on Friday morning in London
12-month change: down 81%
By Xindi Wei, Alliance News reporter
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