Builders merchant group Grafton Group has seen a 3% increase in revenue to €2.05bn for the year ended December 31 2011.
Pre-tax profit, before exceptional items, was up 3% to €42.3m and operating profit was up 13% to €54.7m.
Exceptional costs were over €32m, mostly down to restructuring and “onerous leases” – mainly in Ireland.
UK turnover was €1,493.2m, up 4% on the year before. The UK accounts for around 73% of Grafton turnover.
In a statement, the group said that the turnaround in performance that started in 2010 continued in 2011 in tough markets, although both the Irish and UK markets remain challenging.
Gavin Slark, Chief Executive Officer said: “The turnaround in performance that commenced in 2010 continued in 2011 in challenging markets with savings realised from cost reduction programmes. The Group is well positioned to make further progress in what we believe will be subdued markets in 2012. We will continue to focus on margin enhancement, cost management and cash generation and evaluate value adding expansion opportunities.”
Grafton’s principal UK and Northern Irish brands are Buildbase, Plumbase, Jacksons Building Centres, Euromix, Selco Builders Warehouse and Mcnaughton Blair. It also operates the following specialist brands: Plumbworld, Acorn Insulation, Hirebase, Boundary Bathrooms, Frontline, Seconsolar, Keelsupply and Corgidirect.