Economic upturn delivers revenue boost for builders merchanting group Grafton
Building and DIY supplies group Grafton said today that revenue for the year to December 31 would come in at £2.08billion, an increase of 9.5% over 2013.
Grafton, which operates in the UK, Ireland and Belgium, said its UK merchanting business, which accounts for three-quarters of group revenue, had benefitted from the continued recovery in the wider economy, although volumes in the plumbing and heating market remained subdued.
Increased demand in the residential repair, maintenance and improvement market had been supported by increased consumer confidence and household spending, together with growth in transactions in the secondary housing market and investment in an ageing housing stock.
Grafton’s brands in the UK include Buildbase, which has branches in Ipswich, Sudbury, Stowmarket, Hadleigh and Braintree, and Plumbase, which has branches in Ipswich, Bury St Edmunds, Sudbury Stowmarket and Colchester.
Gavin Slark, chief executive of Grafton Group, said “Revenue trends evolved broadly in line with the group’s expectation of a moderation in the rate of growth as the year progressed. The group anticipates reporting 2014 results consistent with current market expectations and enters 2015 in a robust position as it continues to execute its growth strategy.”
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Grafton is due to announce its annual results on March 10.
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