Notice of FY-2022 Results

RNS Number : 3508V

Lords Group Trading PLC

04 April 2023

 

4 April 2023

Lords Group Trading plc

('Lords', the 'Group' or the 'Company')

Notice of FY-2022 Results

Lords, a leading distributor of building materials in the UK, announces that it will be publishing its full year results for the 12 months ended 31 December 2022 on 3 May 2023.

The Company had previously anticipated releasing results on Wednesday 5 April, however the Company has been informed that the Company's auditor, RSM UK Audit LLP, will no longer be able to meet the previously stated timeline. 

The Board of Lords re-affirms, as disclosed in the Company's trading update of 25 January 2023, that the Group expects to report record revenues, Adjusted EBITDA and Adjusted Profit Before Tax for FY22 of not less than £450 million, £28.3 million and £16.0 million respectively and that the revised date for publication of FY22 results is as a result of procedural matters only.

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FOR FURTHER ENQUIRIES:

Lords Group Trading plc	Via Buchanan
Shanker Patel, Chief Executive Officer	Tel: [phone]
Chris Day, Chief Financial Officer
Cenkos Securities plc (Nominated Adviser and Joint Broker)	Tel: [phone]
Ben Jeynes / Max Gould (Corporate Finance)
Alex Pollen (Sales)

Berenberg (Joint Broker) Matthew Armitt / Richard Bootle / Detlir Elezi	Tel: [phone]
Buchanan Communications	Tel: [phone]
Henry Harrison-Topham / Jamie Hooper / Abby Gilchrist	[e-mail]

Notes to editors:

Lords is a specialist distributor of building, plumbing, heating and DIY goods.  The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public.

The Group operates through the following two divisions:

· Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities.  It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 26 locations in the UK.

·   Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public.  The division offers its customers an attractive proposition through a multi-channel offering.  The division operates over 16 locations enabling nationwide next day delivery service.

Lords was established over 35 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire.  Since then, the Group has grown to a business operating from 42 sites.  Lords aims to become a £500 million turnover building materials distributor group by 2024 as it grows its national presence.

Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L.  For additional information please visit www.lordsgrouptradingplc.co.uk .

 

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