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Grafton Group growth slows in UK

Grafton Group plc, the builders merchanting and DIY Group saw revenue for the six months to 30 June 2016 increase by 13.3% to £1.23 billion.
In the UK, the group’s merchanting arm – Grafton Merchanting GB – saw turnover rise 5.3% in the three months to March 31 and by 1.6% in the three months to June 30 and by 3.3% in the six months to June 30.

Like-for-like revenue growth in weakened progressively and was negative in June.

Gavin Slark, Chief Executive Officer of Grafton Group plc said: “The referendum decision in the UK to leave the European Union has created uncertainty about the near term outlook and prospects for the economy and this is likely to weigh on demand in the new housing and RMI markets over the remainder of the year. Selco is a proven resilient model and continues to be the focus for development capital in the UK. Growth in the Irish and the Netherlands merchanting markets is expected to continue broadly in line with recent trends. The Group’s financial strength and geographic diversity leave it well positioned to take advantage of any opportunities that may emerge across the markets in which it operates.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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