The Lords Group Training Plc Board has recommended a final dividend of 0.52 pence per share (FY23: 1.33 pence per share), which will be paid on 4 July 2025 to shareholders on the register at the close of business on 30 May 2025. The Company's shares will be marked ex-dividend on 29 May 2025.
Other fininacial highlights include:
Group revenue of £436.7 million (FY23: £462.6 million)
Merchanting like-for-like revenue 3.6% lower; recovering strongly in H2 with revenue growth of 2.3% against prior year comparative period
Plumbing and Heating ('P&H') revenue 10.2% down in line with boiler volumes in the UK market
Strong growth in sales of renewable products, up 99% to £5.5 million, supported by the acquisition of Ultimate Renewables Supplies in October 2024
Continued progress against strategy to deliver margin accretive growth by opening new branches, extending the Group's product range and expanding digital revenues
New exclusivity agreements with leading global boiler manufacturers (Navien) and Air Source Heat Pump producers (Clivet) broadening product range
Three new branch openings in 2025 to date
Further investment in Merchanting's digital team with website upgrades to improve customer experience
Decisive management actions taken on overheads delivered like-for-like efficiency savings of £3.7 million during the year whilst ensuing excellent customer service continues to be delivered
Adjusted EBITDA resilient at £22.4 million (FY23: £26.8 million)
