CMO Group hails year of revenue growth and company development
CMO Group, the UK’s largest online-only retailer of building materials, increased its revenue by 9% to £83.1 million in 2022 following strong second half trading.
The company, which is aiming to be the retailer of choice for people building or improving a home, said it delivered a pre-tax profit £175,027 compared to a loss of £4.4 million in the prior year.
Meanwhile revenue per session grew by 34% year-on-year with over 46% of orders coming from repeat customers.
CMO operates a range of online “superstores” across various building and home improvement categories.
Dean Murray, chief executive of CMO Group, said: “Despite the macroeconomic challenges in 2022, CMO continued to grow sales, while also generating more repeat sales and increased average order values, further validating its model and continuing to disrupt the largely traditional builders merchant market.
“Our strategy remains unchanged, and we are focused on continuing to drive profitable sales growth through our existing superstores and through the creation of new channels. The launch of Plumbing Superstores represents a significant addition to our portfolio of superstores and allows us this year to capitalise on our previous acquisitions of JTM Plumbing and Clickbasin UK.”
The group said its new financial year has begun in line with expectations, although the economic situation remains challenging.
Murray added: “As we continue to expand our superstore portfolio and market leading product offer, the board is confident that its proven model will deliver value for shareholders in the short, medium, and long term.”
