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Grafton turnover grows

Revenue at Irish merchanting group Grafton grew by 4% in the six months to 30 June 2012.

Turnover was €1.05 billion, with average daily like for like turnover in the UK merchanting business, which accounted for 74% of Group turnover, increased by 1.4% in the half year.

The business delivered a good improvement in turnover in the first quarter. Trading conditions in the second quarter were adversely affected by unseasonal weather with record levels of rainfall from April to June in the UK.

Self-help measures contributed to an improved performance in Buildbase and Plumbase. Selco continued to develop its market position and Macnaughton Blair experienced a recovery in volumes in its general merchanting business. The specialist indoor construction products business that supplies the residential new build market and the bathroom distribution business performed strongly.

Turnover in the Irish Merchanting business was down by circa 9% due to a further decline in spending on housing RMI.

Average daily turnover in the overall business, including the effect of branch consolidations, declined by 13% in January and February and at half that rate over the March to June period in what continues to be a challenging market. The impact on performance of lower turnover was mainly offset by cost reductions.

The Group will report Interim Results for the six months ending 30 June 2012 on Wednesday, 29 August 2012.

About Fiona Russell-Horne

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

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