Updates

Lords

March 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Some signs of life in the construction sector with shares in Lords Group Trading, the specialist distributor of building, plumbing, heating and DIY products, jumping from a low of 41p to touch 56p after its FY23 update guided to in-line results, with revenues expected to be £463m (FY22: £450m) and adjusted EBITDA £26.6m (£30m). Net debt encouragingly fell from £38m to £28.5m, below Berenberg’s forecasts of £32.6m and is backed by freehold property valued at £15m. In very tough conditions its merchanting division saw revenues fall 2.4% (6.3% like-for-like) to £215m while plumbing & heating revenues rose 7.8% to £248m (3.7% underlying). Unsurprisingly, Lords describes the outlook as subdued into FY’24 and “whilst there ar ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

SigmaRoc

Capital Limited

Lords (November 2024)

Lords (November 2023)

Lords Group - PE just 8.6 in spite of second upgrade (June 2023)

Lords (March 2023)

Lords (October 2022)

Lords - Largest deal to date (June 2022)

Lords (April 2022)

Lords Group Trading - Acquisitive builders merchant aims to more than double EBITDA by 2024 (November 2021)

Lords Group Trading - New issue makes strong debut (October 2021)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X