In line with the builders’ merchant market itself enjoying significant growth, CMO Group PLC has reported positive results for the year ending 31 December 2021.

The results, which come less than a year after the online merchant successfully listed on the AIM market of the London Stock Exchange, show robust organic growth, with revenue up by 46% to £76.3 million and adjusted earnings up by 42% to £3.7 million, year-on-year.

CMO has expanded its market share by 11%, as sales continue to increase across all of the company’s eight online stores.

This strong performance has been bolstered by CMO’s acquisitions of Total Tiles and more recently JTM Plumbing. The latter is set to be integrated into a new Plumbing Superstore due to launch later this year.

CMO's online business model has also led to the company reporting an increase in the overall number of active customers, as well as a 10% growth in average order values, and an increase in the number of repeat orders, which now represent over 40% of all sales.

Despite a backdrop of challenging market conditions that have affected the whole of the industry, CMO says its outlook remains bright thanks to its dropship model for delivery, allowing the business to remain agile, coupled with competitively priced products and commitment to offering the highest standards of customer service.

Commenting, CMO Group PLC’s CEO Dean Murray said: “CMO’s strategic goal is to provide our customers with everything they need to build and maintain their home. We have enjoyed further success over the last year achieving sales, margin and profit growth whilst expanding our range of products.

“We have and continue to experience strong demand driven by both the marketplace and our strong proposition to the internet savvy tradespeople and homeowner of today. We have weathered the supply disruption of 2021 and the difficulties caused by COVID 19, and our flexible model means we are managing well the current macro-economic issues.

“We continue to pursue a pipeline of acquisitions in conjunction with organic growth to add specialist verticals as demonstrated with the launch of plumbing superstore in Q3, and the launch of the homeowner project store in Q4.

“Trading for the first quarter of 2022 has remained strong and the Board is confident that CMO will deliver continued growth in the year to come.”