Lords Group ends 2021 in line with market expectations

Building materials distributor Lords Group said in an update on Thursday that it expects to report revenues for the full year in line with market expectations, at £363m.

The AIM-traded firm said its profitability for the 12 months ended 31 December was expected to be in line with, or exceeding, market expectations, with adjusted EBITDA of about £21.5m and basic adjusted earnings per share of no less than 5.4p per ordinary share.

In addition, the performance and integration of the seven businesses acquired by Lords during the 2021 financial year, and following the year-end, were continuing in line with expectations, the board said.

“We continue to make strategic acquisitions that are integrating well into the group and adding to our size, reach and product range, which helps to better serve our customers and ultimately drive growth,” said chief executive officer Shanker Patel.

“While industry wide boiler component shortages have created a short-term impact on our heating and plumbing division, importantly customer demand remains robust, showing the strength of our proposition.”

At 1541 BST, shares in Lords Group Trading were up 0.15% at 92.64p.