
The leading distributor of building materials in the UK, has announced its Final Results for the year ended 31 December 2024.
Lords Group, the leading distributor of building materials in the UK, has announced its Final Results for the year ended 31 December 2024.
FY24 highlights:
Group revenue of £436.7 million (FY23: £462.6 million)
Continued progress against strategy to deliver margin accretive growth by opening new branches, extending the Group’s product range and expanding digital revenues.
Decisive management actions taken on overheads delivered like-for-like efficiency savings of £3.7 million during the year whilst ensuing excellent customer service continues to be delivered
Current Trading and Outlook
Shanker Patel, Chief Executive Officer of Lords, said: “Against a challenging market backdrop in 2024, Lords delivered a resilient performance. We continue to focus on what is within our control: managing costs, driving efficiencies, reducing debt and pragmatically supporting strategic initiatives to deliver organic and acquisitive growth.
“Whilst the strength and timing of the anticipated recovery in the UK construction market remains uncertain, the medium-term market drivers are positive. The recent property transaction has strengthened our balance sheet and Lords is well positioned to invest in organic growth and selective acquisitions. A strong start to FY25 gives the Board confidence of delivering an improved financial performance for the full year.”