AN online retailer founded by four Plymouth roofers over a meal in a Chinese restaurant has seen sales hit £76.3m and has become one of the city’s most significant companies. CMO Group Plc is now the UK’s largest online-only retailer of building materials and has just reported a 46% hike in turnover.
The Burrington Way-headquartered business’s preliminary results for 2021 have revealed its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation), a measure of profitability, increased 42% to £3.7m from the 2020s £2.6m. CMO said the results reflected “strong organic growth” and included a £16.5m contribution from the acquisition of Total Tiles and the addition of £1.7m from three months of trading by JTM Plumbing, acquired last September and which is set to be integrated into a new Plumbing Superstore which will launch later this year.
This story is from the May 18, 2022 edition of The Herald.
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This story is from the May 18, 2022 edition of The Herald.
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