Sparks

Lords Group Trading (AIM: LORD) – Disappointing 2024 but more optimistic outlook

Lords Group Trading’s FY24 revenue declined 5.6% to £436.7m driven down by weak market demand in Merchanting and particularly in P&H where boiler volumes fell by over 10%. Despite action on costs and investment in growth initiatives, adjusted operating profit declined 37% to £10.4m, which led to a decline in earnings and a corresponding reduction in the full year dividend. However, Q125 trends in both Plumbing and Heating and Merchanting have started well with Q1 revenue up 22% and 11% respectively and, therefore, management’s expectations for FY25 are unchanged.

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TMT | Comment

09.05.25

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