Tuesday 25 October 2016

Grafton Group post increased revenue of £2.21bn for 2015

Published 12/01/2016 | 07:26

Grafton chief executive Gavin Slark
Grafton chief executive Gavin Slark

Revenue in Grafton Group, the builders and DIY group, grew by 6.3pc up to £2.21bn (€2.95bn) in the year ending December 31 2015, while the final quarter of last year saw increases for business in Ireland and the UK.

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In the full year last year, merchanting in Ireland grew by 10.1pc, with growth of some 7.9pc in the final quarter compared to the same period in the previous year.

Revenue for the group in Ireland also grew on a constant currency basis. Irish revenue in the group was up 10.9pc on a constant currency basis however, significant currency headwinds saw that fall by 0.1pc.

Overall across the UK, Ireland and Belgium, revenue grew by 6.3pc and 8.9pc on constant currency.

In a trading update released to shareholders this morning, chief executive officer of Grafton Group, Gavin Slark, said:

"2015 was a year of significant development activity for the Group with the continued expansion of the Selco branch network, bolt-on acquisitions in the UK merchanting market and the purchase of Isero which now gives the Group a presence for the first time in the Netherlands market. 

"The Group anticipates reporting operating profit for 2015 in line with the guidance provided in the Interim Management Statement issued on 12 November 2015," Mr Slark said.

The Irish merchanting business in Ireland performed strongly with record low interest rates and growth in house prices and housing transactions supporting increased activity in residential repair.

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