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Grafton Group confident on full year expectations

Woodies owner Grafton confident on its full year targets
Woodies owner Grafton confident on its full year targets

Builders merchant and DIY group Grafton has said its like-for-like revenue for the four months to the end of October rose by 5.5%.

Grafton owns the Woodies DIY retail chain as well as its builders merchant business in Ireland and the UK.

In a trading update, Grafton said its group revenue for the ten months to October increased by 9.3% to £2.5 billion, while like-for-like revenue was up 4.4%.

Like-for-like revenues at its Irish merchanting business for the ten months to the end of October were up 7.8%, while its UK merchanting revenues rose by 2.7%. 

The company's Dutch merchanting revenues grew by 7.5% but revenues in its Belgian operations slipped by 1.6%.

Meanwhile, revenues at its retailing businesses increased by 9.9% in the ten months to October, while its manufacturing revenues jumped by 19.9%.

Grafton's chief executive Gavin Slark said the the group had benefited from its exposure to multiple geographic markets and saw its businesses in Ireland and the Netherlands perform well. 

"Following a good first half performance, overall trading in the last four month has underpinned our confidence that we will deliver our expectations for the full year," the CEO added.