Irish-based builders merchant group Grafton saw sales fall by €25m this January thanks to the appalling bad weather across the UK.
The group, which owns the Buildbase, Plumbase, Selco and Jacksons brands made the announcement in an Interim Management Statement in advance of today’s Annual General Meeting.
Following the difficult start, trading in the UK, which now accounts for over 70% of Group turnover, picked up with like for like turnover growth in each of the following months. In Ireland, sales are still below those of 2009 but the rate of decline has reduced.
Group turnover for the four months to the end of April was €617m, down €22m on the first four months of 2009.
UK merchanting sales in sterling increased by 4% in the three months to the end of April.
During the first three months there were further rationalization costs of €1.7m (three months to March 2009: €4.1m) which will mean annualised savings of €4m.