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News Items filtered by date: Friday, 21 June 2024

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GMS grows sales in 2023 financial year

21 June 2024

US: GMS grew its sales by 3% year-on-year to US$5.5bn in the 2023 financial year. It attributed this partly to high volumes of multi-family residential construction. The group’s Canadian operations contributed US$660m (12%) of sales. GMS recorded adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of $616m, down by 7% year-on-year.

During the year, the company made three new acquisitions. It repurchased US$116m-worth of shares and refinanced its senior secured term loan to extend its maturity by seven years, to 2030.

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