Irish builders merchants and DIY retailer Grafton Group has seen a further stabilisation in its turnover according to a trading update released this morning for the year ended 31st December 2009.
The statement said that sales in the second half of the year were comparable with those in the first half. Group turnover to the end of December was about €1.98bn down 26% from €2.67bn in 2008.

The merchanting and manufacturing arms of the business both saw an improvement on the first half figures, while the DIY retail operation remained stable.

Group merchanting turnover was down 14% in the second half (in constant currency) compared with 24% in the first six months of 2009. DIY turnover remained constant in the second half showing an 18% decline, unchanged on the first half. Manufacturing turnover was down 36% in H2 compared with 49% in the first half.

Like-for-like daily sales I the UK businesses, which account for more than two thirds of group sales, improved in H2. In constant currency, H2 sales decline 7% compared with 18% in H1.

The statement said: "Trading conditions remain challenging in this market. However, "green shoots" evident in key UK sectoral indicators such as increased mortgage lending, housing transactions, house building and some house price inflation are being reflected in improving sales across our UK businesses."

The same comparison in Ireland shows a 32% H2 decline compared with 37% in H1.

The statement concluded: "While the group is cautious about the outlook for 2010 it will benefit from the cost reduction and integration programme implemented over the last 18 months. The Group is well placed to capitalise on any improvement in its markets."