NuGen Properties

E-merchant posts £4m loss

E-merchant posts £4m loss


CMO sites include Roofing Superstore

CMO made an operating loss of £3.3m for the year to 31st December 2021 as its administrative expenses more than doubled, and a pre-tax loss of £4.4m.

 CMO (originally Construction Materials Online) has never actually made a profit.

The 2021 numbers include Total Tiles, acquired at the end of 2020, and three months of trading by JTM Plumbing, added on 30th September 2021.

CMO’s trading websites saw like-for-like growth of 12% on 2020 (and 30% on 2019).

Key Capital Partners (KCP) took majority ownership of CMO in 2017 from founders Mark Tasker, Gary Tasker, Rob Kavanagh and Brian Field and floated it on the Alternative Investment Market (AIM) of the London Stock Exchange last year.

Chief executive Dean Murray said that the 2021 results were in line with expectations set at the time of the company’s initial public offering.

“Our market share is increasing, and we are poised to benefit from the coming generation of technology and time savvy tradesmen and homeowners who are looking for a different experience from that provided by the bricks and mortar merchants,” he said.

The number of active customers buying from CMO sites increased to 182,000 in 2021, up from 127,000 in 2020.  The average order value grew by 10% to £274.

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Dan Morten 18/01/22

Google
Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

Google
NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Google
Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Google
Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

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Great firm to communicate with fast and good quality work.