Builders merchanting and DIY group Grafton Group said its group total revenue from continuing operations rose by 28.3% to £1.76 billion in the ten months to the end of October from £1.37 billion the same time in 2020.
Revenue was also up by 27.1% from £1.39 billion in 2019, the company said.
In a trading update from July to the end of October, Grafton Group said that trading was stronger than anticipated during the four month period.
It said it now expects that full year group adjusted operating profit in continuing operations will be in the range of £265-£270m, compared to current forecasts of £256m.
Grafton, which owns the Woodies DIY chain, said the positive revenue trends experienced in the first half of the year were sustained in the latest period under review.
This was supported by good underlying demand in its markets and further normalisation of trading conditions as Covid-19 restrictions were lifted.
The company said that 2021 has been an exceptional year for it as the strength of DIY activity and an inflationary surge in building materials prices had a very positive impact on volumes, revenue and gross margins.
But it cautioned that supply chain disruption and pricing pressure remain a challenging backdrop for many of its suppliers and customers.
"We expect to exit 2021 in good shape and well placed to outperform in our markets," it added.
The company said the "exceptional" revenue growth trends in the Woodie's DIY, Home and Garden business in Ireland moderated as anticipated, after the reopening in May of non-essential retail and leisure activities.
But it said the business still continued to achieve "a step change" in performance compared to 2019, supported by a strong performance in seasonal categories.
Grafton also said it saw strong trading momentum in its Chadwicks business after the phased reopening of the sector in mid-April.
This trend continued in the latest four month period due to an improved economic backdrop and buoyant levels of activity in the residential RMI and new build markets, it added.
Its Selco business in the UK performed strongly with average daily like-for-like growth of 7.1% in the four months to October measured against a demanding growth rate of 10.8% the same time last year. Grafton said the Selco trade-only, self-select, fixed price model was well placed to support increased spending by its customers on residential RMI projects.
The company said that 2021 has been an exceptional year for it as the strength of DIY activity and an inflationary surge in building materials prices had a very positive impact on volumes, revenue and gross margins.
"However, supply chain disruption and pricing pressure remain a challenging backdrop for many of our suppliers and customers. We expect to exit 2021 in good shape and well placed to outperform in our markets," it added.
"The overall group delivered a good performance in the period, against strong comparatives, leading to an increase in current year operating profit guidance supported by the strength of our market positions, geographic diversity and strong financial position," Gavin Slark, chief executive of Grafton said today.
