skip to main content

Grafton Group's revenues up 6.1% so far this year

Grafton Group's CEO Gavin Slark said it should continue to benefit from the momentum in its Irish and Dutch businesses
Grafton Group's CEO Gavin Slark said it should continue to benefit from the momentum in its Irish and Dutch businesses

Builders merchant and DIY group Grafton has said that revenue for the four months to the end of April increased by 6.1% to £962m.

In a trading update, Grafton said that the improved revenues came on the back of a positive trading performance and more favourable weather compared to the same time last year. 

It also said that growth in total revenue was impacted by the disposal of two non-core UK merchanting businesses in the second half of 2018. 

The parent group of Woodies, Chadwicks and Heiton Buckley has its annual general meeting in Dublin today.

Grafton said that revenues - on a constant currency basis - jumped by 10.7% in its Irish merchanting business, while they increased by 4.9% in the UK, by 8% in the Netherlands and by 6.3% in Belgium.

Revenues in Grafton's retailing business soared by 12.2% in the first four months of the year, while its manufacturing revenues increased by 7.3%. 

"The group had a positive start to the year and we should continue to benefit from the momentum in our Irish and Dutch businesses," commented Gavin Slark, Grafton Group's chief executive. 

But he said that underlying demand in the UK RMI market remains relatively subdued.

"We continue to focus on realising the benefits from the investments we have made in recent years into our higher margin Selco and Leyland SDM businesses," he added.