UK's Lords Group gains on upbeat 2022 profit view
25/01/2023 11:20
** Shares of construction supplier Lords Group Trading Plc
LORD.L up 11% at 86p
** Stock set to record its best day since Oct. 2021 if gains
hold
** Co expects adjusted core profit to be not less than 28.3
million pounds ($34.80 million) for FY22, above current market
expectations (full story)
** LORD also expects adjusted PBT of not less than 16 mln
pounds vs analysts' consensus estimate of 15.7 mln pounds for
FY22
** London-listed co reports FY22 revenue of 450 mln pounds
vs 363 mln pounds a year earlier
** Says it looks forward to fulfill its IPO objective to be
a 500 mln pound revenue business by 2024 with core profit margin
of 7.5% in medium term
** "While market conditions in 2023 may become more
challenging in the short term, Group will continue its track
record of growth"- CEO Shanker Patel
** Stock was up about ~6% YTD, as of Tuesday's close
($1 = 0.8118 pounds)
)
(Reporting by Sruthi Narasimha Chari in Bengaluru)
((Sruthinarasimha.chari@thomsonreuters.com))