REG - Lords Group Trading - Notice of FY-2022 Results

Lords TradingAnnouncement

04/04/2023 12:30

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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.

 

 

- Ends -

 

FOR FURTHER ENQUIRIES:

 

 Lords Group Trading plc                                     Via Buchanan
 Shanker Patel, Chief Executive Officer                      Tel: +44 (0) 20 7466 5000
 Chris Day, Chief Financial Officer

 Cenkos Securities plc (Nominated Adviser and Joint Broker)  Tel: +44 (0)20 7397 8900
 Ben Jeynes / Max Gould (Corporate Finance)
 Alex Pollen (Sales)

 

 Berenberg (Joint Broker)                               Tel: +44 (0)20 3207 7800

 Matthew Armitt / Richard Bootle / Detlir Elezi

 Buchanan Communications                                Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham / Jamie Hooper / Abby Gilchrist  LGT@buchanan.uk.com (mailto:LGT@buchanan.uk.com)

 

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
(http://www.lordsgrouptradingplc.co.uk/) .

 

 

 

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