DIY and builders merchanting group Grafton has said that turnover for the four months to April 30 amounted to €642m, up 4% compared to the same time last year.
In an interim management statement ahead of its AGM, the company said the rate of decline in turnover in Ireland moderated to 2.6%.
The residential repair, maintenance and improvement sector in the UK accounts for over 70% of the group's business, and it said the recovery there continues. But it added that trading conditions in Ireland remain challenging because of weak demand and low levels of activity in the new build markets.
Grafton said the increase in turnover and lower cost base as a result of the rationalisation measures over the last few years resulted in an improved group operating performance in the four-month period.
'The group's strong businesses and financial position leave it well placed to benefit from a recovery in its markets,' the company stated.
