Essential reading for retailers and suppliers in the home improvement market

Grafton continues with 'challenging trading conditions'

Published: 10 November 2009
Irish builders merchants and DIY group Grafton, which owns the Buildbase, Plumbase, Jacksons and Selco merchant brands in the UK has issued an interim management statement for the period to November 2009 which shows UK turnover down 4%.
Grafton continues with 'challenging trading conditions'
However, turnover is continuing to stablise. Quarterly turnover across the group was €470m in Q1, €520m in Q2 and €522m in Q3. Group turnover for the month of October was €174m.

Group turnover to the end of October was €1.686bn down 28% on €2.347bn in the same period last year. Like-for-like sales per working day in the group's UK businesses in October were down 4% compared with minus 18% in the first half.

In Ireland, like for like sales per working day in October were down 30% compared with minus 37% for the six months to June 30.

To the end of October, merchanting turnover was down 21% compared with 24% at the half year, DIY turnover was down 19% compared with 18% at the half year.
The statement issued reports that the leading macro economic indicators , such as increases in; housing starts, housing transactions, mortgage lending and house prices, continue to improve. Increases in activity should be reflected in improving trading levels in Grafton's UK merchanting business during 2010.

"The extensive rationalisation and integration programme is well advanced and the benefit of cost reductions is being reflected across the Group. The Group is cash generative and net debt levels continue to be reduced. Grafton maintains a comprehensive business franchise in its core markets with strong competitive operating units and a conservatively managed securely funded balance sheet with good liquidity. The Group remains well positioned to capitalise on upturns in activity in its markets as they emerge."

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?


As a retailer, what do you struggle most with in the adhesives & sealants category?





Latest reader comments

re: Toolstation.com excels in Which? website survey

Ray Pearce
Toolstation is always straight forward from ordering from the catalogue to receiving the items and a comfortable welcoming place to browse ...

re: Better Bathrooms goes into administration

Carolyn Muggleton
HiWe purchased a shower enclosure from Better Bathrooms which we have returned to them and asked for our money back.. The amount we ...

re: Woolworths staff reunited by new website

Pam Jones
looking for Brian Finch who worked as an undermanager to Mr. Cotton in Ebbw Vale woolworths....

re: 13-year-old's invention goes into production

Gel
No point in responding to an 8 year old post!...

re: Capitol Tiles outlets snapped up by BC Ceramics

Beryl smith
Hi I bought some black tiles called night black by capitol tiles I need some spares do you know where I can get them thanks Beryl...

Most read stories