Lords Group Trading PLC - London-based distributor of building, plumbing, heating and DIY goods - Expects revenue and adjusted pretax profit for 2022 to be no less than GBP450 million and GBP16.0 million respectively, both ahead of current market expectations. Lords said these are GBP436.7 million for revenue and GBP15.7 million for adjusted pretax profit. In 2021, revenue was GBP363 million and adjusted pretax profit was GBP10.2 million. Earnings before interest, tax, depreciation and amortisation is expected to reach no less than GBP28.3 million, beating market view of GBP26.5 million.

Chief Executive Officer Shanker Patel says: "While market conditions in 2023 may become more challenging in the short term, the group has substantial organic growth levers through new geographies and product range extension that provide our group with the opportunity to continue its track record of growth."

Looking ahead, Lords remains confident to fulfil its objective to be a GBP500 million revenue business by 2024 and to achieve a 7.5% adjusted Ebitda margin over the medium-term.

Current stock price: 85.00 pence each, up 10% midday Wednesday in London

12-month change: down 14%

By Xindi Wei, Alliance News reporter

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