Online builders’ merchants CMO Group (LON: CMO) has had a tough time during 2022 and the share price fell by 83.5% to 28p. Revenues are growing, but profit is declining.
CMO was founded in 2008 and the core business was acquired in a management buyout in 2017. It is the UK’s largest online retailer of building materials and offers a wide range of products via websites selling specific products, such as roofing, drainage and insulation.
CMO benefited from higher DIY spending during Covid restrictions and floated when this factor was peaking. Residential spending has weakened. In July 202...
