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Lords

October 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Lords reported record revenue of £214m (+19.7%) for the six months ended June with EBITDA up 27% to £14.2m.The Merchanting side was strong with like-for-like sales up 14.5% to almost £106m, helped by four acquisitions since July ‘21. While EBITDA margins declined from 8.7% to 7.3% that was in line and reflected customer mix and a lag between increasing prices to cover rising costs and the change taking effect. Broker Cenkos believes it’s “continuing to gain market share, with its continued focus on range extensions and new site openings.”The Plumbing & Heating side saw revenue down 12.5% to £108.3m due to the boiler component shortages despite strong demand. The situation was easing by the June exit date and is expected t ...

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Lords

October 2022

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