Irish builders merchant and DIY group Grafton has said it is seeing favourable trading conditions so far this year.
In a trading statement issued ahead of its AGM today, Grafton said its revenues rose by 7.7% to £851m over the four months to the end of April.
The company generates the majority of its earnings in the UK and it said its traditional UK Merchanting businesses reported solid growth in like-for-like revenue against strong comparatives with last year.
The business also benefited from measures to improve profitability including the restructuring plan implemented in the last quarter of 2016, the company added.
Grafton, which is the largest builders merchant in Ireland and also owns Woodies DIY, said it had benefited from the broad-based recovery in construction activity here.
Grafton's Irish like-for-like revenue, excluding the impact of any new outlets opened during the year, rose by 13.6%.
Gavin Slark, Grafton's chief executive, said the group has had a good start to the year and the outlook is positive.
"We expect a continuation of the favourable trends in the Irish and Netherlands businesses," he said.
"In view of recent economic and political developments, we are more cautious about the prospects for the UK however we have a good portfolio of businesses with strong market positions and we look to the future with confidence," he added.
