With the builders’ merchant market enjoying significant growth, CMO Group PLC — billed as “the UK’s largest online-only retailer of building materials” — has reported positive results for the year ending 31 December 2021.
The results come less than a year after the self-styled e-commerce builders’ merchant successfully listed on the AIM market of the London Stock Exchange and show robust organic growth, with revenue up by 46% to £76.3m and adjusted EBITDA up by 42% to £3.7m, year-on-year.
CMO also states it has expanded its market share by 11%, as sales “continue to increase across all of the company’s eight online superstores” which include Door Superstore, Roofing Superstore, Drainage Superstore, Insulation Superstore and CMO Trade. This performance has been bolstered by CMO’s acquisitions of Total Tiles and, more recently, JTM Plumbing which is set to be integrated into the new Plumbing Superstore which will launch later this year.
With its product and service offering “continu(ing) to prove popular with professional trade contractors and DIY enthusiasts alike”, CMO has reported an increase in the overall number of active customers, as well as 10% growth in average order values and an “impressive increase” in the number of repeat orders which are now said to represent over 40% of all sales.
CMO Group PLC’s CEO Dean Murray 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 have weathered the supply disruption of 2021 and the difficulties caused by COVID 19, and our flexible model means we are managing the current macro-economic issues well.”
The organisation is alos reporting the success of its ongoing and ambitious environmental campaign, which has already raised over £22k and planted more than half of the 5,000 trees it has pledged to its local city of Plymouth. Further support for the campaign has come from national charity Trees for Cities, which has partnered with CMO to help identify the local sites and bring its ‘CM Grow’ campaign to fruition.
Launched by CMO at the beginning of 2021, the campaign forms part of the company’s wider commitment to its environmental, social and corporate governance responsibilities. The ambition behind the CM Grow campaign is also inspired by the company’s desire to improve the air quality and natural landscape of Plymouth where its head office is based, whilst also reducing its own carbon footprint.
Two thousand of the trees have now been planted at Poole Farm in the north-east of Plymouth, a local farm that’s focused on community involvement through health and wellbeing, education and conservation. The young tree whips were planted to form a mosaic of different forest habitats in the area. A further 500 trees have also been planted at the local Newnham Meadow Park.
Commenting on the CM Grow initiative, CMO’s Chief Operating Officer, Sue Packer, said: “We operate in an industry where the need to reduce carbon emissions and become more energy-efficient is paramount and this awareness and desire to make a real positive impact runs through all our business operations. It’s also the thinking behind our ‘CM Grow’ campaign which has been inspired by our commitment to helping to improve the local area around where we work and live.”
