Builders merchanting and DIY group Grafton saw revenue for the year ended 31 December 2014 grow to £2.08 billion, an increase of 9.5% on the previous year.
The Group, which businesses include Buildbase and Selco Builders Warehouse, said trading conditions were favourable in the final quarter with positive momentum from a sustained recovery in the UK and Irish economies leading to increased demand in the residential repair, maintenance and improvement (RMI) and new build markets.
The rate of growth eased as anticipated in the second half of the year measured against progressively improving trends over the same period in 2013.
Grafton’s UK merchanting business, which accounted for three quarters of Group revenue, benefitted from the continued recovery in the wider economy although volumes in the plumbing and heating market remained subdued.
Favorable trading in the established UK Merchanting businesses, particularly Selco, which benefitted from strong growth in the Greater London Area, together with acquisitions and organic development initiatives resulted in total revenue growth for the year of 9.5%.
Gavin Slark, chief executive officer of Grafton Group plc, said: “Revenue trends evolved broadly in line with the Group’s expectation of a moderation in the rate of growth as the year progressed. The Group anticipates reporting 2014 results consistent with current market expectations and enters 2015 in a robust position as it continues to execute its growth strategy.”
In December 2014, Grafton acquired London-based builders merchant Crescent Building Supplies, with its four branches to be integrated into the Buildbase division of Grafton Merchanting GB Ltd.
The Group’s final results for the year are scheduled to be announced on 10 March 2015.