Grafton Reports 12.8% Group Revenue Increase

Grafton Group has reported a 12.8% increase in revenue from £1.87 billion to £2.11 billion for the 10 months to 31 October 2016.

The company revealed today, 10 November, that like for like revenue rose in its Merchanting business rose by 11.4% in Ireland and 1.2% in the UK as a whole. While the division continues to experience pricing pressures, Grafton said the restructuring announced in its half year results "is proceeding according to plan".


Elsewhere, gains in employment and disposable incomes boosted Grafton's Woodie's DIY business, while a positive response has been gained from customers on re-focusing the business in recent years.

A "solid demand" for new housing also improved the company's UK mortar manufacturing business, which experienced a resumption of volume growth driven by increased supply and low interest rates.

Gavin Slark, Chief Executive Officer of Grafton, said: "The Group had a satisfactory performance in the period with development activity focused on expansion of the Selco branch network in the UK.

"The Irish and Netherlands businesses performed well and are attractively positioned to benefit from a relatively early stage recovery in the economic cycle and underpin the benefits to the Group of exposure to multiple markets."

(LM)