CMO looks to capitalise on first mover advantage with AIM float

Online building materials retailer CMO is looking to capitalise on its first-mover advantage and 12-year track record by listing on AIM.

The company boasts of being a digital disruptor in the predominantly offline £27bn market.

Operating seven specialist websites, including roofingsuperstore.co.uk and drainagesuperstore.co.uk, CMO posted a like-for-like jump in sales of over 30% up until the end of May or more than 70% including acquisitions.

"We have enjoyed strong, consistent growth driven by the Group's successful customer proposition, first mover advantage and scalable digital platform," CMO boss Dean Murray said.

"Our clear and focussed strategy will enable us to continue to capture further profitable share in an under penetrated market as customers increasingly move online. We will support this through targeted category expansion and a multi-channel marketing plan to drive revenue growth and margin enhancement."

The company said that it was profitable with its "asset light and low-cost" model delivering "strong" cash generation.

Liberum Capital had been chosen as the group's so-called NOMAD and sole bookrunner.

Admission to AIM was expected in early July 2021.