LORDS GROUP TRADING PLC (LORD) — Interim Results

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, welcome to LORDS GROUP TRADING PLC Interim Results Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and they can be submitted at any time using the Q and A tab just situated on the right hand corner of your screen. Please simply type in your questions at any time and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company can review your questions submitted today and we'll publish those responses where it's appropriate to do so. Before we begin, we'd like to submit the following poll, and I'm sure the company will be most grateful for your participation. I'd now like to hand over to CEO, Shankar Patel. Good morning. Good morning, ladies and gentlemen, and thank you for joining us for our interim 2024 results presentation. On the agenda, I'll be going through the highlights. I'm Shankar Patel, the CEO. My colleague, Stuart Kilpatrick, the CFO, will go through the financial review. And then I'll take you through our strategic update and outlook followed by Q and A, which we will share with you myself and Stuart. In terms of the highlights, we're very pleased with our resilient performance in challenging market conditions in our first half of 'twenty four. Group revenues have come in at $214,200,000 H1 'twenty it was $222,600,000 a like for like revenue decrease of 6.1% and in line with the market. In particular, our Plumbing and Heating division recovered in Q2 after a significant disruption in Q1 due to the clean heat market mechanism being introduced and then removed in the first quarter of twenty twenty four. We're very pleased with maintaining our gross margin, which reflects our ...