Grafton Group plc, the builders merchanting and DIY Group with operations in the UK, Ireland and Belgium has reported an increase in revenue in its latest trading update.
Group revenue for the twelve months to 31 December 2013 was £1.90 billion, an increase of 8.0 per cent from £1.76 billion for 2012.
The UK merchanting business, which generated almost three quarters of Group Revenue, returned to volume growth following five years of flat or declining volumes. The improvement in market conditions was driven by the recovery in the wider economy and the housing market in particular. The increase in total revenue for the year also reflects growth in the branch network through acquisitions and organic developments.
Gavin Slark, chief executive officer of Grafton Group plc, said: “There are encouraging signs that the relatively recent recovery underway in our principal markets appears to have more substantive foundations. Grafton is well placed to benefit from a sustained improvement in trading conditions, but we are adopting a cautious stance towards our prospects for 2014 until such time that activity levels in our principal markets have strengthened further.”
Its final Results for 2013 are scheduled for announcement on 5 March 2014.