CMO recorded an operating loss of £3.3 million for the year to 31st December 2021, with its administrative expenses more than doubling and a pre-tax loss of £4.4 million.
CMO (originally Construction Materials Online) never made a profit.
2021 figures include Total Tiles, acquired at the end of 2020, and three months of trading by JTM Plumbing, added on 30and September 2021.
CMO’s merchant sites experienced like-for-like growth of 12% in 2020 (and 30% in 2019).
Key Capital Partners (KCP) took the majority stake in CMO in 2017 from founders Mark Tasker, Gary Tasker, Rob Kavanagh and Brian Field and listed it on the London Stock Exchange’s Alternative Investment Market (AIM) that year. last.
Chief Executive Dean Murray said 2021 results were in line with expectations set at the time of the company’s IPO.
“Our market share is growing and we are poised to benefit from the next generation of technology- and time-savvy artisans and homeowners who seek an experience different from that offered by brick-and-mortar merchants,” did he declare.
The number of active customers buying from CMO sites increased to 182,000 in 2021 from 127,000 in 2020. Average order value increased by 10% to £274.