Business

Friday 9 December 2016

Grafton Group revenue jumps 6pc to £2.21bn

Published 08/03/2016 | 07:23

Grafton chief executive Gavin Slark
Grafton chief executive Gavin Slark

Revenue at Grafton Group, a builders merchanting and DIY group, have jumped by 6pc to £2.21bn (€2.86bn) while operating profits at the firm rose 15pc.

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The group, which has operations in Ireland, posted an operating profit of £126.8m for last year, up significantly from £110.1m in 2014.

The company published its annual results for 2015 this morning which showed operating profit margins at the firm increased by 40 basis points to 5.7pc from 5.3pc while basic earnings per share grew 19pc to 41p.

The Grafton dividend increased 16pc in the year off the back of an improvement in profitability.

Grafton chief executive, Gavin Slark, said the group had made "continuing progress" in 2015.

"We continued to invest in organic growth initiatives and selective acquisitions, most notably Isero in the Netherlands. 

"We are confident about the overall prospects for the Group and expect to deliver organic growth in the year ahead and to also benefit from recent development activity as well as exposure to the strengthening economies in Ireland and the Netherlands," he said.

The firm said that growth had returned to its Irish DIY business and that it had made a successful entry into the Dutch merchanting market after completing the acquisition of Isero.

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