Grafton Group plc, the international builders merchant and DIY Group, saw group revenue rise 6.1 per cent to £962 million (four months to 30 April 2018 £907 million) and by 6.5 per cent in constant currency. Group like-for-like revenue increased by 6.4 per cent. The group has issued a trading update for the first quarter of 2019, in advance of its Annual General Meeting today (May 8).
Growth in total revenue was impacted by the disposal of two non-core UK merchanting businesses in the second half of 2018.
UK Merchanting division – which includes Grafton Merchanting GB and Selco – saw revenues rise 4.8%. Irish merchanting was up by 10.7%.
Gavin Slark, Chief Executive Officer of Grafton Group plc said: “The Group had a positive start to the year and we should continue to benefit from the momentum in our Irish and Dutch businesses. Underlying demand in the UK RMI market remains relatively subdued and we continue to focus on realising the benefits from the investments we have made in recent years into our higher margin Selco and Leyland SDM businesses.”