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Mon July 22 2024

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Small growth for builders’ merchant

9 Nov 11 Grafton Group saw its turnover rise by 1.7% in the first 10 months of 2011, up at ,1.73bn compared to ,1.70b in the same period last year.

The builders’ merchanting and DIY group has operations across the UK and Ireland. The UK business, which accounts for more 70% of group turnover, increased sterling turnover by 4.8 % in the 10 months compared to the same period last year and growth of 5.0% per cent in first half. 

Average daily UK like for like sterling turnover increased by 4.0% in the 10 month period but moderated to 2.0% in September and October. This compares to growth of 4.7% in the first half.

Irish merchanting turnover declined by 7.7% in the 10 months, which compares to a decline of 7.2% in the half year. 

Turnover in the Irish retailing business dropped by 5.7% in the period to October compared to a decline of 4.6% in the first half.

Uncertainty on the economy, low consumer confidence and tight lending conditions continue to limit growth in RMI volumes in the UK market, the company said in an interim management statement

Selco's programme of new store development in the UK continued with a second store opened in Slough during September.

Grafton’s Belgian joint venture completed its third bolt on acquisition this year, bringing the Belgian annualised turnover to €55m.

The group expects full year operating profit before restructuring and amortisation costs to be in the range of €52m to €55m (2010: €50.6m). 

Grafton Group operates through a range of brands, including Selco, Buildbase, Plumbase, Jackson, Chadwicks, Heiton Buckley and Macnaughton Blair.

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