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海角视频 construction industry faces delayed recovery until late 2025, Lords reports

Lords, one of the 海角视频's largest building materials suppliers, said it was continuing to focus on delivering efficiencies to deal with cost pressures and "an increasingly onerous regulatory environment" after it reported a downturn in demand

(Image: Lords)

One of the 海角视频's largest building materials suppliers, Lords, has warned that the construction industry is unlikely to recover before the end of the year due to rising taxes and increased uncertainty.

The London-listed company reported a downturn in demand and said it was focusing on delivering efficiencies to cope with cost pressures and "an increasingly onerous regulatory environment," as reported by .

Lords stated: "The economic environment at the start of 2025 is not conducive to growth," and added: "Like all 海角视频 businesses, we also face increased costs in 2025 in relation to employer's National Insurance, business rates and the minimum wage, which amount to around £1m for us annually."

The company also noted signs of an improving construction market, but did not expect this to impact the repair, maintenance and improvement sector until the end of 2025.

For the calendar year 2024, Lords reported a 5.6 per cent decline in turnover, down to £436.7m.

The London-based firm, operating from over 40 sites across the 海角视频, recorded a loss of £2.6m for the year, a significant drop from the previous year's profit of £3m.

Net debt also rose by 13.5 per cent to £32.4m.

The 40 year old company anticipates a £1m hit from increases to national insurance contributions and the national minimum wage. Since the start of the year, shares in Lords have fallen by 18 per cent.