The distributor will continue to focus on customer service excellence, highly engaged colleagues and specialist brands

Lords Group Trading plc, a leading distributor of building materials in the UK, today (Tuesday 27 January) issues a trading update for the year ended 31 December 2025.

Highlights:

  • Group Revenue Growth: FY25 Group revenue increased by 8.3% to £473 million (FY24: £437 million) and 0.7% on a like-for-like basis
  • Adjusted EBITDA: Expected to be in line with current market consensus
  • Merchanting Division: Revenue grew by 6.0% to £227 million, with LFL sales increasing by 3.1%, supported by the successful opening of three new branches.
  • Plumbing & Heating (P&H) Division: Revenue remained resilient at £220 million. A notable highlight was the significant 57% increase in renewables revenues, driven by an expanded product range and growth at Ultimate Renewables
  • Digital Division: The successful acquisition of CMO in June 2025, the UK's leading online-only builders’ merchant, with revenue for the period expected to be £26 million

The Board remains focused on managing costs, driving efficiencies, and pragmatically supporting strategic initiatives to leverage growth as market conditions improve. The Group expresses confidence in its strong positioning for the medium-term, benefiting from increasing momentum in renewables and the Digital division.

Shanker Patel, Chief Executive Officer of Lords, said: "We continue to focus on customer service excellence, highly engaged colleagues and specialist brands and are excited by the opportunity CMO provides to leverage off our branch network and supply chain relationships. It is a unique offering in the construction market, and with support, it has the potential to deliver significant growth.”

“We remain focused on controlling our costs and improving working capital. We reduced net debt significantly by £17.9 million in the year as we optimised our capital allocation and reduced working capital. While the market remains subdued entering 2026, we believe the Group is well positioned to benefit from operational leverage as volumes improve, complimented by selective organic and acquisitive initiatives.”