20th Jun 2023 14:10
Lords Group Trading PLC - London-based distributor of building, plumbing, heating and DIY goods - Says "resilient" trading performance since May 3 has continued as it backs expectations for 2023, expecting it to be in line with market expectations. Analyst revenue consensus for 2023 amounts to GBP473.9 million, up 5.3% from GBP450.0 million in 2022. Adjusted pretax profit is expected at GBP17.9 million, 2.9% higher than GBP17.4 million a year prior. Says it continues to expand its geographical presence and product range.
"Whilst a persistently negative macroeconomic backdrop and uncertain interest rate environment has persisted throughout FY23 and has impacted consumer sentiment, our diverse product offering and end-customer base combined with our carefully executed M&A strategy has meant that softer demand in some segments of the business year to date have been offset by robust performance in others," Non-Executive Chair Gary O'Brien says.
Current stock price: 61.88 pence each, up 1.0% on Tuesday afternoon in London
12-month change: down 26%
By Xindi Wei, Alliance News reporter
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