CMO Group – “Proposed Cancellation of AIM Listing”, YET ANOTHER Covid-era AIM IPO Roll-Call of Shame…

Most recently on company describing itself as “the UK's largest online-only retailer of building materials” CMO Group (CMO), earlier this month I wrote ‘more than 46% share price crash… but still no announcement! (natch, on AIM)’ with the shares then down to 5.125p. It was later announced that Canaccord Genuity discretionary clients had reduced shareholdings from above 5% to just above 4.3%, though hopefully my caution was further heeded as, and having most recently closed at 4.15p, today from CMO “Proposed Cancellation of AIM Listing” and the shares currently slumping to below 1p!

#CMO – proposed cancellation of AIM listing

CMO Group – more than 46% share price crash since yesterday morning, but still no announcement! (natch, on AIM)

Shares in AIM-listed CMO Group (CMO), which has been describing itself as “the UK's largest online-only retailer of building materials”, have slumped from yesterday afternoon to a current 5.125p, a more than 46% fall. There’s still though not been an announcement from the group, so what’s going on?

CMO Group – intra-day “Year-end trading update and financing Update”. Uh Oh…

Describing itself as “the UK's largest online-only retailer of building materials”, CMO Group (CMO) has issued an intra-day (uh oh!), 1pm, “Year-end trading update and financing Update”. The shares are currently a bit higher in response to 9.625p, but what about that comparing to a start of 2024 28.5p?!

CMO Group – Friday intra-day “Q4 2024 Trading Update and Outlook” announcement. Uh oh…

Describing itself as “the UK's largest online-only retailer of building materials”, CMO Group (CMO) has issued a “Q4 2024 Trading Update and Outlook”-titled announcement intra-day (12:17pm) on a Friday – an attempted ‘no one watching o’clock’?

CMO Group – argues trading progress and “continues to have a sound financial position”. Er, does it?…

Describing itself as “the UK’s largest online-only retailer of building materials”, CMO Group (CMO) has issued a trading update including stating “improving sales trend and positive momentum through Q2 and July” and “continues to have a sound financial position… remain confident about the future”. So what of a current up to 16p share price?

#CMO Group – H1 LFL sales -17% YoY, Q2 -12.8% and July -3.4%

CMO Group – 2023 results arguing “remains well financed”. Er, does it?…

Describing itself as “the UK's largest online-only retailer of building materials”, CMO Group (CMO) has announced its results for the 2023 calendar year including “in 2023, CMO overlayed its longer-term strategy with shorter-term strategic priorities and has had significant success” and that it “is seeing an improving trend and some momentum in Q2 which is anticipated to continue into H2”. So what of a share price currently approaching 7% lower at 20.5p?

#CMO – 2023 swing to loss, continuing LFL sales decline though currently moderating

#CMO – COO Sue Packer retiring, promotion of Callum Tasker and change of private equity firm Key Capital’s board representative

CMO – “the group remains well financed”. Er, why currently attempting to “strengthen… available liquidity” then?!

Describing itself as “the UK's largest online-only retailer of building materials”, CMO Group (CMO) has issued an update headlined “Progress on key strategic priorities and Q4 trading update”. Not progress on Q4 trading too then?

#CMO – trading warning and swing to net debt

#CMO – H1 LFL sales -12% YoY, notes “challenging” macroeconomic situation

#CMO Group – 2022 adj. EPS down to 0.83p, “the economic situation remains challenging”

#CMO – 2022 LFL sales +2%, targeting further progress though notes “market conditions remaining challenging”

CMO Group – from arguing “perfectly positioned to continue to thrive” to AIM IPO Roll-Call of Shame in a year

The UK's largest online-only retailer of building materials, CMO Group (CMO) has issued a trading statement commencing that “the group has continued to deliver strong revenue growth of 10% for the 27 weeks to 30 June 2022. One-year LFL sales of 2% (Superstores at 5% and Total Tiles -10%) against particularly strong comparatives. Two-year LFL sales growth was 29%”. So what of a current 46.5p share price, £33.5 million market cap... down 40%!