Grafton Group turnover up 4pc to €1.05bn
GRAFTON Group said turnover during the first half of the year rose 4pc to €1.05bn.
In an interim management statement, the company said sales at its UK merchanting business rose 1.4pc which was described as a “good improvement” so far.
Much of that increase was offset by slumping Irish merchanting and retailing businesses, which saw turnover plunge 9pc and 12.5pc respectively. The country continues to be what Grafton described as a “challenging market”.
The company said it took advantage in the growth of so called “self help” measures in the UK market, which “contributed to an improved performance in Buildbase and Plumbase”. “[The subsidiary] Selco continued to develop its market position and Macnaughton Blair experienced a recovery in volumes in its general merchanting business,” Grafton said.
The issues in Ireland continued, with “adverse weather conditions in April and June contributing to reduced demand for gardening products, while trading was also affected by weak consumer spending due to pressure on disposable incomes”, Grafton added.