Builders merchanting and DIY group Grafton Group said that total revenue from continuing operations rose by 25.7% to £2.11 billion in 2021 from £1.68 billion in 2020 and by 28.4% from £1.64 billion in 2019.
In a trading update for the year to the end of December, Grafton said it had an "exceptional" performance in 2021.
It added that it now expects to report record full year adjusted operating profit in continuing operations at the top end of expectations.
The Woodies DIY chain owner said its current consensus analysts' forecast comes in at £270.4m with a range of £266.7-£276.3m.
Grafton Group said the positive revenue growth trends reported for the four months to the end of October continued to the end of the year.
This was driven by its strong brands and market positions against a backdrop of generally favourable trading conditions, it added.
The company said that while supply chain pressures moderated, building materials price inflation continued to be a key component of revenue growth in the distribution businesses particularly in the UK and Ireland.
Grafton said its Woodie's DIY, Home and Garden business in Ireland experienced strong demand for seasonal categories.
Growth moderated from post lockdown highs in 2020 and market conditions continued to normalise while exhibiting exceptional growth compared to 2019 with revenues for the year up 14.7% from 2020 and 37.6% from 2019.
The sharp increase in demand that followed the full reopening of the construction sector in early May continued through to the year end at Grafton's Ireland Distribution division, supported by a positive trading backdrop and record levels of activity in the residential RMI and new build markets.
In December, the Group bought Sitetech Building Products, the market leader in the distribution of specialist construction accessories in Ireland with revenue of £15m in 2020.
The disposal of Grafton's traditional merchanting business in Great Britain also completed at the end of the year and the proceeds were received in full on December 31.
"As a result, the net cash position at the year end was materially ahead of the prior year which leaves the group with a strengthened balance sheet and considerable investment capacity," Grafton said.
In its UK Distribution division, Selco continued to experience good demand in its market with average daily like-for-like revenue growth of 2.2%in the final two months of the year measured against exceptional growth of 18.1% in the same time in the previous year.
Its MacBlair business also performed strongly and expanded its coverage of the Northern Ireland market with the acquisition in December of P McDermott & Sons (Omagh) Ltd., a single branch builders distribution business located in Omagh in Co Tyrone.
Gavin Slark, chief executive of Grafton, said the group's portfolio of high returning businesses performed strongly leading to a record outcome for the year.
"2021 was also a year of significant strategic change for Grafton with the sale of the traditional merchanting business in Great Britain and the acquisition of IKH in Finland," Mr Slark said.
"The overall outlook remains positive and we look to the future with confidence given the strength of our businesses, strong balance sheet and good pipeline of investment opportunities," he added.
