Grafton sees modest growth in UK turnover
GRAFTON – the building materials and DIY group - has reported a modest rise in turnover in the first 10 months of 2011.
But any growth in the UK has been offset by further declines in its Irish business.
Grafton, in a trading statement today, said turnover for the end of September was €1.73bn.
This compared with €1.7bn in the same period last year.
Turnover in the UK was up 4.8pc, though Grafton says the growth slowed in September and October. The UK end accounts for 70pc of turnover.
Turnover in Ireland was down 7.7pc and the drop in the DIY retailing business was 5.7pc.
Grafton blames economic uncertainty, low consumer confidence and tight lending are hindering growth in he UK.
In Ireland, the economic environment is likely to make trading conditions tough into the medium term.