Focus helps LBS continue growth

The opening of three branches, and a focus on long-term growth and  maintaining a robust balance sheet helped independent family-owned and run builders merchant LBS maintain sales at £87m for the year ended December 31 2023. Operating profit dropped slightly year on year thanks to a concerted effort to retain competitive pricing.

The three branches opened in 2023 were its first in Cardiff, and Total Plumbing branches in both Llantrisant and Llandeilo. Since the year end, the company has made two acquisitions , both of established family businesses in key, strategic locations: DG Heath in Pontarddulais and Denman & Sons in Pengam.

Ben Davies and Rachel Davies, LBS group managing directors said:  “Our focus on 2023 continued to be on delivering great value to our customer base via best-in-class customer service and competitive pricing. We are proud to be the largest independent builders’ merchant in South Wales and our offer of strong teams in local branches in key locations combined with a strong stockholding and high product availability ensures that we can give customers a reason to choose us.

These values have stood us in good stead over the years, and continue into 2024. We are confident of further growth and investment to come. Our strategy remains unchanged.”

Mark Davies, LBS Group company chairman said: “We are pleased with LBS Group performance in 2023 against the backdrop of a challenging marketplace. We have seen these conditions continue into 2024, but we are making strong progress in winning market share and delivering growth in key areas.”