Contributed by Target Group
30/09/2021 - CMO Group
CMO Group PLC, the UK’s largest online-only retailer of building materials, announces its unaudited Interim Results for the six months ended 30 June 2021.
Financial and Trading Highlights
Terms agreed for acquisition of JTM Plumbing Ltd
*Adjusted EBITDA is defined as earnings before interest, tax, depreciation, amortisation, exceptional and acquisition costs.
Dean Murray, CEO of CMO Group PLC, said:
“I would like to take this opportunity to extend a warm welcome to our new investors who came on board at IPO in July and to thank all of our colleagues for their continued hard work and commitment at this time. I am delighted to report a strong set of results meeting the expectations set at IPO. Our strategy is to take advantage of the channel shift online and low penetration of internet driven sales in an enormous and evolving marketplace, augmented by our dropship, asset light delivery model.
“I am also pleased to report a positive contribution from Total Tiles and the team in their first six months of trading within the enlarged CMO Group. We will continue to grow our product range through selective strategic acquisition and are delighted to announce we have agreed terms for the acquisition of JTM Plumbing Ltd, a digital pure play business, which takes us into the different category of online plumbing and heating.
“The current challenges facing our industry are well documented however we are managing these well and remain confident of achieving continued double-digit sales growth in H2 to meet the Board’s expectations.”
To find out more visit the CMO Group website
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