Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Lords Group Trading, a distributor of building materials, has announced its audited final results for the year ended 31 December 2025 (‘FY25’ or the ‘year’).
The group recorded revenue of £472.8 million, up 8.3%, with positive Like-For-Like (LFL) growth of 0.7% despite subdued end markets.
Group merchanting LFL revenue grew +3.1%, Plumbing and Heating (‘P&H’) margins improved by 60bps, and renewables revenue was up 57%.
Chief executive officer of Lords, Shanker Patel, commented: “Despite a challenging backdrop, Lords made further progress in positioning the Group for growth. We grew revenue, reduced net debt by 59%, opened three new merchanting branches and completed the acquisition of CMO, which broadened our customer reach and significantly strengthened our digital capability.
“Whilst market conditions are likely to remain subdued in the near term, with ongoing uncertainty around inflation and interest rates, we have built a more diversified, more scalable business and the Group is now better positioned operationally and strategically than at any point in its recent history. Supported by our new banking facilities, we have the financial flexibility to continue investing selectively as opportunities arise.
“As the market recovers, we expect a disproportionate improvement in profitability driven by operating leverage across both our branch network and digital platform. We are confident that the strategic progress made in FY25 will translate into enhanced returns and sustainable shareholder value creation over the medium term.”
