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Woodie's booms in June after lockdown

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Woodie’s was affected by Covid-19, with store closures for a number of weeks

Woodie’s was affected by Covid-19, with store closures for a number of weeks

Woodie’s was affected by Covid-19, with store closures for a number of weeks

WOODIE'S DIY reported record monthly revenue here in June due to "exceptional" sales of seasonal products.

Nonetheless, overall revenue at its owner, Grafton Group, fell almost 20pc to £1.06bn (€1.18bn) in the first half of the year.

The company was affected by Covid-19, with store closures for a number of weeks.

In a trading update yesterday, Grafton - which operates in Ireland, the UK, and the Netherlands - said its performance last month was "more resilient" than expected with revenue from continuing operations of £247.8m (€275.6m).

This was 11.4pc ahead of June 2019 revenue, as it benefited from two additional trading days and the acquisition of Polvo in July 2019.

The strong demand last month in Grafton's businesses in Ireland and Netherlands and in Selco in the UK was partly offset by a slower pace of recovery in the traditional distribution and manufacturing businesses in Britain, the company said.

It added that while it was encouraged by the improved performance in June, "trading during the month is likely to have been influenced by pent-up demand as Covid-19 restrictions were lifted and we remain cautious about revenue trends in the second half of the year".

Gavin Slark, CEO of Grafton, said: "While we face many challenges in the months ahead, we are encouraged by the group's trading and financial performance in the month of June which represented an important milestone on the road to recovery.

"Grafton is in a strong financial position and our resilient portfolio of market leading businesses is emerging stronger from this crisis and remains well positioned for future growth."

In its Irish distribution business, Chadwicks - which fully reopened on May 18 - the company experienced growth of 7.3pc in average daily like-for-like revenue last month.

This was driven primarily by strong demand in the repair, maintenance and improvement segment of the housing market.

Looking to the rest of 2020, Grafton said its outlook for the year remains suspended.

Shares in the company were up more than 4pc yesterday as the market reacted positively to the update. Flor O'Donoghue, analyst at Davy, said that while revenues had fallen "we believe this represents a very resilient performance in extraordinary circumstances".

Irish Independent