StockMarketWire.com - Building materials group Lords swung to a first-half profit as revenue was boosted by acquisitions.

For the six months ended 30 June 2021, pre-tax profit was £4.5 million compared with a loss of £0.3 million year-on-year as revenue increased £179.0 million from £124.0 million.

The long-term fundamentals of the repair, maintenance, and improvement market 'are supported by pent up demand due to historic under investment in the UK housing stock and enhanced consumer savings triggered by the Covid-19 pandemic,' the company said.

'The board is very encouraged by the strong first half performance across the group and, while there remain product availability issues for a variety of reasons, it is confident in the full year outlook for Lords against a backdrop of positive macro trends,' it added.

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