CMO Online Merchants Posts Continuing Loss

CMO building

CMO GROUP PLC, the online site which sells building materials, has released Preliminary Results for 2021 which show that despite revenue increasing by 46% to £76.3m, the company continued to make a loss, with -£3.3m operating loss, -£4.4m before tax, up from 2020’s -£0.8m.

The company says the year saw strong organic growth, with a £16.5m contribution from its acquisition of Total Tiles and the addition of £1.7m from three months of JTM Plumbing sales, acquired in September 2021.

Construction Materials Online is a collection of online specialist sites including insulationsuperstore.co.uk, roofingsuperstore.co.uk, doorsuperstore.co.uk and drainagesuperstore.co.uk. The sites reported a collective sale increase of 12%, with more than 50% of sales coming from repeat orders, from its 182,000 customers up from 127,000 in 2020, and with an average order value of £274.

CMO Online Merchants

Dean Murray, CEO said: “We have and continue to experience strong demand driven by both the marketplace and our strong proposition to the internet savvy tradespeople and homeowner of today.

“We continue to pursue a pipeline of acquisitions in conjunction with organic growth to add specialist verticals as demonstrated with the launch of plumbing superstore in Q3, and the launch of the homeowner project store in Q4.

“Trading for the first quarter of 2022 has remained strong and the Board is confident that CMO will deliver continued growth in the year to come.”

CMO says it will continue to pursue an active acquisition pipeline.

Key Capital Partners took majority ownership of CMO in 2017 from founders Mark Tasker, Gary Tasker, Rob Kavanagh and Brian Field and floated it on the Alternative Investment Market (AIM) of the London Stock Exchange in 2021. 

>> Read more about CMO in the news.

 

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