Lords Group Trading PLC Reports Mixed FY24 Results Amid Market Challenges

An announcement from Lords Group Trading PLC ( (GB:LORD) ) is now available.

Lords Group Trading PLC has released its FY24 trading update, highlighting a mixed performance across its divisions. While group revenue is expected to decrease to £436 million from £463 million in FY23, the Merchanting division showed strong momentum, particularly in the final quarter of FY24, with a significant increase in revenue compared to the previous year. In contrast, the Plumbing and Heating division faced challenges with a 17% drop in Q4 revenue due to weaker market conditions, although the acquisition of Ultimate Renewables reflects a strategic focus on renewable energy growth. The company has taken steps to reduce net debt and improve operational efficiency, positioning itself well for future growth despite challenging market conditions.

More about Lords Group Trading PLC

Lords Group Trading PLC is a specialist distributor of building, plumbing, heating, and DIY goods in the UK, catering primarily to local tradesmen, small to medium-sized plumbing and heating merchants, construction companies, and the general public. The company operates through two divisions: Merchanting, which supplies building materials and DIY goods through a network of 32 locations; and Plumbing and Heating, which distributes plumbing and heating products through 16 locations, offering nationwide next-day delivery.

YTD Price Performance: -8.66%

Average Trading Volume: 58,570

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £53.25M

For detailed information about LORD stock, go to TipRanks’ Stock Analysis page.