Lords’ profit falls as weak demand offsets new-branch growth
Lords Group Trading ($LORD) reported unchanged first-half revenue of £232.1 million, but underlying demand weakened: like-for-like sales fell 6.8%. Adjusted EBITDA before property gains declined to £8.4 million from £10.4 million, and the group recorded an adjusted pretax loss of £1.2 million, versus a £3.1 million profit. Net debt increased to £26.5 million from £20.9 million a year earlier. New merchanting branches and the CMO business supported reported sales, while gross margin improved to 2
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