Building materials firm CMO warns over profits amid construction woes

Business | Business News Online building materials supplier CMO warned over annual earnings as it said economic uncertainty continues to hit the construction and home repairs sector. Plymouth-based CMO, which claims to be the UK’s largest online-only retailer of building materials, said orders had been lower than usual at the end of 2023 as homeowners shifted towards less profitable smaller building and repair projects. Sales for the full year are expected to fall 14% to around £71.5 million, roughly as expected, but the company warned that underlying earnings are now expected to plummet to around £1 million – less than half the £2…