Updates

Lords Group Trading

February 2026

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.

The shares bounced following Lords’ FY25 update, which said sales for the year were £473m, up 8.3%, supported by the CMO acquisition in June and new Merchanting branches. Like-for-like sales grew 0.7%, with EBITDA in line at £20-21m. Divisionally, Merchanting was +3.1% like-for-like, while Plumbing & Heating was -1.6%. Net debt was £14.5m, £6m less than broker expectations. Berenberg forecasts EPS of 1.7p this year and 2.2p next. Its share price target remains 65p. As noted last month, H2 has weak comps due to last year’s Budget noise, and with most of Lords’ costs fixed or semi-fixed (branches, staff, systems, vehicles), the business is highly sensitive to any uplift in sales, which I expect to see as interest rates fall furt ...

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Ramsdens

Lords Group Trading (December 2025)

Lords Trading Group - CMO now back to 90% availability (October 2025)

Lords - Buys online pure play from administrators (July 2025)

Lords Trading Group - Q1 recovery: +11% Merchanting and +22% P&H (June 2025)

Lords Group Trading (October 2024)

Lords Group (June 2024)

Lords - Well oversold (February 2024)

Lords Group (October 2023)

Lords Trading Group (May 2023)

Lords Group (February 2023)

Lords Group Trading (October 2022)

Lords Group Trading - Will hit £500m sales target a year early (May 2022)

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.

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