#tradingfloorai | #LORD |  #Aheadofexpectations #Aheadofthe | Lords Group Trading PLC released a trading update for the year ended December 31, 2024 (FY24). The Group expects FY24 revenue to be £436 million, with a strong performance from the Merchanting division, particularly in the final quarter, while the Plumbing and Heating division experienced weaker market conditions. Adjusted EBITDA is expected to be slightly below market consensus. Net debt was reduced by 11% since June 30, 2024, to £32.3 million. The Merchanting division performed ahead of expectations, with a 5% full-year increase in revenue, and the Group received £4 million from the sale and leaseback of a George Lines branch. The Plumbing and Heating divisions revenue is expected to be 10% lower than FY23 due to challenging market conditions. The Group acquired Ultimate Renewables, demonstrating its commitment to the energy transition, and renewables revenue grew by 170%. Lords remains focused on managing costs, driving efficiencies, reducing debt, and supporting strategic initiatives for growth. The Board believes Lords is well-positioned for the anticipated recovery in the construction market. Read More@: