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Grafton revenue moves ahead

Grafton Group plc, the builders merchanting and DIY Group, saw its 2017 Group revenue increase by 8.8 % to £2.7 bn issues according to a trading update for the year ended 31 December 2017, issued in advance   its Final Results for 2017 on 1 March 2018.

UK merchanting revenue rose 4.5% for the full year on a like-for-like basis, although the fourth quarter was up only 3%, compared with strong growth in the final quarter of 2016.  Trading conditions in the residential RMI market were mixed and affected by general economic and household uncertainty and a competitive pricing environment.

Selco opened 12 branches during 2017, increasing its branch network to 59, with Howard Luft appointed Chief Executive Officer of Selco with effect from 1 January 2018.

The Irish merchanting business saw its fourth successive year of double-digit like-for-like revenue growth, with demand driven by growth in the residential RMI market and the recovery from a low base in house building.

Gavin Slark, Chief Executive Officer of Grafton Group plc said: “We are pleased with the progress made across the Group during 2017 which reflects the benefits of self-help and strategic initiatives to grow the business.   We enter the new year in a favourable positon well placed to implement our growth strategy supported by good cash flow from operations, a strong balance sheet and low net debt.”

About Fiona Russell-Horne

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

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Home / News / Grafton revenue moves ahead

Grafton revenue moves ahead

 

Grafton Group plc, the builders merchanting and DIY Group, saw its 2017 Group revenue increase by 8.8 % to £2.7 bn issues according to a trading update for the year ended 31 December 2017, issued in advance   its Final Results for 2017 on 1 March 2018

UK merchanting revenue rose 4.5% for the full year on a like-for-like basis, although the fourth quarter was up only 3%, compared with strong growth in the final quarter of 2016.  Trading conditions in the residential RMI market were mixed and affected by general economic and household uncertainty and a competitive pricing environment.  

 

Selco opened 12 branches during 2017, increasing its branch network to 59, with Howard Luft appointed Chief Executive Officer of Selco with effect from 1 January 2018.   

 

The Irish merchanting business saw its fourth successive year of double-digit like-for-like revenue growth, with demand driven by growth in the residential RMI market and the recovery from a low base in house building.

 

Gavin Slark, Chief Executive Officer of Grafton Group plc said: “We are pleased with the progress made across the Group during 2017 which reflects the benefits of self-help and strategic initiatives to grow the business.   We enter the new year in a favourable positon well placed to implement our growth strategy supported by good cash flow from operations, a strong balance sheet and low net debt.”

                                                                                                                                                                                    

 

 

About Fiona Russell-Horne

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

Check Also

BMF drives net zero agenda at Parliamentary Reception

The Builders Merchant Federation unveiled its new “Race to Zero” policy document at a Parliamentary …