Merchant Exchange
Building materials distributor Lords Group Trading plc has reported a resilient first-half performance, with revenue broadly in line with last year despite continued pressure across its end markets.
In its H1 trading update for the six months to 30 June 2026, the Group reported revenue of £232.0 million, compared with £232.8 million in the same period last year. Performance was supported by the opening of four new merchant branches and the acquisition of CMO, helping to offset weaker underlying market demand.
Merchanting revenue totalled £112.3 million, down from £117.7 million in H1 2025, although the business recorded sequential like-for-like sales improvement from the first to the second quarter.
Digital revenues increased 17.5% year-on-year, while the Plumbing & Heating division generated revenue of £96.3 million, compared with £112.9 million in the prior year. Within the division, spares revenue grew by 8%, reflecting continued demand in the maintenance and repair market.
Shanker Patel, Chief Executive Officer of Lords Group Trading plc, said: “Whilst our end markets remain challenging, the Group has again demonstrated resilience during the first half. Merchanting improved steadily through the second quarter, CMO has moved to positive EBITDA and we have taken decisive action to improve the performance of our P&H business.
“Although the recovery in our end markets is taking longer than expected, we remain focused on cash generation, operational execution and delivering sustainable shareholder value as our markets recover.”
Lords Group is expected to publish its full interim results in September.
