DIYWEEK.net

 

Grafton Group delivers exceptional revenue growth

Published: 11 January 2019 - Kiran Grewal
 

Grafton Group plc, the international builders merchanting and DIY Group, has issued its trading update for the year ended 31 December 2018 in advance of the announcement of its Final Results for 2018 on 28 February 2019.

Group revenue for 2018 was £2.95 billion, an increase of 8.7% from £2.72 billion in 2017. Revenue growth in constant currency was 8.4% and average daily like-for-like revenue increased by 4.3%. As expected, the rate of growth moderated in November and December following above trend growth in September and October.

With a good performance over the year, the Group anticipates reporting EBITA for 2018 slightly ahead of the top end of analyst expectations*.

UK daily like-for-like revenue growth for the three months to the end of December last year was an increase of 3.4% and the total revenue growth in that time at 7.7%. In Ireland average daily like-for-like revenue growth for the three months to the end of December 2018 was 9.8% and total revenue was 8.4%.

As part of our overall strategy to improve returns, the Group has said it has disposed of two small non-core UK businesses which contributed revenue of £40.0 million and EBITA of circa £1.4 million in 2018. Online Home Retail Limited completed a successful management buyout (MBO) of www.plumbworld.co.uk, from Grafton Group plc this month.

Chief executive officer of Grafton Group plc, Gavin Slark commented today: "We are pleased with the strong performance over the year, with contributions from both organic growth and the Leyland SDM acquisition. The Group continues to benefit from its exposure to multiple geographies and its diverse customer base. The Group’s cash generative businesses, strong balance sheet and low level of net debt support our development strategy for the year ahead."

*Grafton compiled analyst forecasts show consensus EBITA for 2018 of £185.1m with the top end of the range £188.5m.

Comments


(Your email address will not be published)
3 + 6 =  
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

re: SX Rainproof Exterior Caulk

Wally
I need the exterior sx rain resistant caulk! Can't get it anywhere so please help! How can I order it? Need it yesterday...

re: BCT can replicate any material in a ceramic tile

Christina Tiritanou
Not sure if you can help as I require a tile which has the measurements of 6”x 6”? Thank you....

re: Latest update on Green Homes Grant and implications for homeowners and landlords

colin thompson
SarahVery clear and helpful information.Thanks...

Most read stories

http://www.diyweek.net/grafton-group-delivers-exceptional-revenue-growth