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Grafton Group reveals revenue up 13.3%

Published: 12 July 2016
Revenue for the Grafton Group, owner of Irish DIY retailer Woodies, was up 13.3% to £1.23bn during the six months to June 30.
Grafton Group reveals revenue up 13.3%
The group's retailing results - comprising mainly of Woodies - showed a 10% increase in the three months to March 31, a 4.2% uptake in the three months to June 30 and an overall increase of 6.4% in the collective six months to June 30.

The recovery in retail sales in Ireland gathered pace in 2015 and continued into the half year, supported by momentum in consumer spending that was reflected in strong revenue growth in the Woodies DIY business.

Grafton Group chief executive officer Gavin Slark said: "The referendum decision in the UK to leave the European Union has created uncertainty about the near term outlook and prospects for the economy and this is likely to weigh on demand in the new housing and RMI markets over the remainder of the year.

"Growth in the Irish and the Netherlands merchanting markets is expected to continue broadly in line with recent trends. The group's financial strength and geographic diversity leave it well positioned to take advantage of any opportunities that may emerge across the markets in which it operates."

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