Woodie's DIY owner benefits from Irish 'momentum' as revenue increases
Grafton Group, which owns Woodie's DIY, has reported a 6.4pc increase in like-for-like revenue to £962m (€1.1bn) in the four months to 30 April.
The performance benefitted from the "momentum" in the company’s Irish and Dutch businesses.
In Ireland, revenue in Grafton’s merchating business increased 10.7pc year-on-year in the four months to 30 April, while in the Netherlands revenue increased by 8pc.
In a trading update ahead of its AGM today, the group said growth in total revenue was impacted by the disposal of two “non-core” UK merchanting businesses in the second half of 2018.
Gavin Slark, CEO of Grafton Group said: "The group had a positive start to the year and we should continue to benefit from the momentum in our Irish and Dutch businesses."
"Underlying demand in the UK [repair, maintenance, and improvement] RMI market remains relatively subdued and we continue to focus on realising the benefits from the investments we have made in recent years into our higher margin Selco and Leyland SDM businesses."
During the four month period the group’s retailing business reported a 12pc increase in revenue, while its manufacturing arm recorded a 7.3pc increase in revenue.