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Lords Group Trading plc announced on 4 April 2023 that it will publish its full year results for the 12 months ended 31 December 2022 on 3 May 2023, revising the previously anticipated release date of 5 April. This revision occurred because the Company's auditor, RSM UK Audit LLP, could not meet the earlier timeline due to procedural matters. Lords reaffirmed its expectation for FY22 revenues of not less than £450 million, Adjusted EBITDA of not less than £28.3 million, and Adjusted Profit Before Tax of not less than £16.0 million.
| Date | 4 Apr 2023 |
| Time | 12:30:01 |
| Category | Results |
| ID | 3508V |
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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.
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FOR FURTHER ENQUIRIES:
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Lords Group Trading plc |
Via Buchanan |
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Shanker Patel, Chief Executive Officer |
Tel: +44 (0) 20 7466 5000 |
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Chris Day, Chief Financial Officer |
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Cenkos Securities plc (Nominated Adviser and Joint Broker) |
Tel: +44 (0)20 7397 8900 |
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Ben Jeynes / Max Gould (Corporate Finance) |
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Alex Pollen (Sales) |
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Berenberg (Joint Broker) Matthew Armitt / Richard Bootle / Detlir Elezi
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Tel: +44 (0)20 3207 7800 |
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Buchanan Communications |
Tel: +44 (0) 20 7466 5000 |
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Henry Harrison-Topham / Jamie Hooper / Abby Gilchrist
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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.