Friday 17 January 2020

Good weather sees revenue at Woodie’s owner increase 8pc in May and June

Grafton CEO Gavin Slark. Photo: El Keegan Photography
Grafton CEO Gavin Slark. Photo: El Keegan Photography
Ellie Donnelly

Ellie Donnelly

Builders' merchanting group Grafton saw its revenue in May and June increase by just over 8pc on the back of the good weather.

The strong performance in May and June helped off set slow revenue growth of 1.3pc year-on-year in constant currency in the four months to 30 April.

On a reported basis, revenues for the first half increased by 9pc year-on-year to £1.45bn (€1.64bn) at the group, who’s brands include Woodie’s and Selco.

"We were pleased with the group’s performance in the first half though the trading pattern was heavily influenced by the weather," chief executive Gavin Slark said.

"The very cold conditions experienced in March and April have been followed by a hot and dry May and June which has benefited a number of businesses, particularly Woodie’s."

Mr Slark went on to say that its businesses in Ireland and the Netherlands "continue to perform well."

Breaking the numbers down by division, and in May and June revenue in the UK merchanting business was up 5.8pc, in Ireland the merchanting business revenue was up 9.6pc, while revenue in the group’s retail business increased by a massive 25.9pc.

Looking forwards Mr Slark said that the group was entering the second half "well placed to deliver our expectations for the financial year."

Online Editors

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