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Industrials

Sparks

Lords Group Trading (LSE: LORD) – FY24 trading update points to positive outlook
Published by Andy Murphy

As a result of a tough trading environment, Lords Group Trading expects FY24 revenue to be £436m (FY23: £463m) and EBITDA to be ‘slightly’ below expectations. The merchanting business was down 3.6% on a like-for-like basis, but up 2.3% in H2, highlighting a material pick-up, especially in Q4 (+11%). The plumbing and heating business saw FY24 like-for-like revenue fall 10.4%, with Q4 particularly affected by market distortions in the comparative period. Lords remains well positioned and is hopeful of market led-recovery in the second half of FY25.

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