London · Delayed Price · Currency is GBP · Price in GBX Lords Group Trading Earnings Call Transcripts
Fiscal Year 2026
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Challenging trading conditions and subdued demand impacted revenue, but strategic cost-saving measures and a successful acquisition supported performance. All AGM resolutions, including director re-elections and a final dividend, were put to poll, with results to be published online.
Fiscal Year 2025
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Record revenue and strong cash flow were achieved despite subdued markets, with digital and renewables growth driving margin improvements. Net debt was significantly reduced, and the group is positioned for recovery as market conditions improve.
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Revenue grew 8.4% in H1 2025, with strong merchanting performance and reduced net debt. Strategic acquisitions, including CMO, and new branch openings support growth, while margin pressures persist due to mix and inflation. Outlook remains positive despite market challenges.
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The AGM confirmed strong trading in line with expectations, approved all resolutions including a final dividend, and highlighted strategic growth through acquisitions and digital expansion. Community engagement and ESG initiatives were emphasized, with active staff involvement.
Fiscal Year 2024
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2024 saw resilient results amid tough conditions, with revenue down 5.6% and strong cost control. Merchanting showed H2 recovery, P&H mirrored boiler market declines, and leverage was reduced via a £13.1m sale and leaseback. Q1 2025 revenues are up sharply.
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Revenue declined 3.8% year-over-year to £214.2m, with gross margin holding steady at 20.2% and adjusted EBITDA down 16.6%. Renewables, especially air source heat pumps, showed strong growth, and 2023 acquisitions are fully integrated. H2 trading is expected to remain challenging, but medium-term prospects are positive.