CMOStores.com has posted successive year-on-year growth, largely driven by a surge in home improvement projects throughout 2020.
The company has released its latest results, to 31 December 2020, which show market share gains driving sales figures across its divisions. According to the company, CMO’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) has grown by 300%.
Overall, the company experienced organic growth of 17%, with this expected to be further bolstered in the coming months by the recent acquisition of Total Tiles, which itself is seeing impressive rates of growth. Once again, the company’s Doors Superstore performed exceptionally well, increasing sales by 45%, while the Roofing Superstore saw sales growth of 25%.
Commenting on the annual results, Chief Financial Officer Jonathan Lamb said: “Last year was a uniquely challenging time for many companies, however, our agility as an e-commerce building products retailer allowed us to capitalise on the opportunities presented by the shift in homeowner purchasing habits as we continue to disrupt the market. This was hinted at in our half year results, which saw CMO post sales in excess of £23 million across our superstores, and has been confirmed by our annual results and in particular the EBITDA growth.”
CMOStores.com Managing Director, Sue Packer, added: “Our investment in our e-commerce experience as well as in our people meant that our customer service capability also increased, giving us scope to position ourselves as the preferred partner for larger home improvement schemes. Our goal is to support customer projects from start to finish – we want customers to understand that good builds start here.”
For more information visit https://www.cmostores.com/.