Essential reading for retailers and suppliers in the home improvement market

Woodie's posts revenue jump in Q4, as merchanting sector 'softens'

Published: 16 January 2018 - Kiran Grewal
 

Grafton Group's retailing division, which includes Irish retailer Woodie's DIY, has recorded a growth in revenue of 14.8% in the fourth quarter. Woodie's traded strongly through the year benefitting from the strong economy, new and extended product ranges and store upgrades. The uplift in sales was said to be influenced by "good demand across all product ranges, including the seasonally-important Christmas category which typically accounts for a high proportion of revenue", the group said.

Woodie's is Ireland's largest DIY chain, trading from 35 stores nationally.

The latest figures were posted in Grafton Group's trading update for the year ended December 31, 2017 in advance of the announcement of its Final Results for 2017 on March 1.

Within its UK merchanting division, average daily like-for-like revenue growth softened, "as anticipated," in the fourth quarter against the backdrop of strong growth in the final quarter of 2016. Trading conditions in the residential RMI market were mixed and affected by general economic and household uncertainty and a competitive pricing environment.

The opening of branches in Solihull and Hayes in December increased the Selco branch network to 59 in a year that saw significant growth in market coverage with the opening of twelve new branches. 

The Group's merchanting business in Ireland completed its fourth successive year of double-digit like-for-like revenue growth with an increase of 16.2% in, what was described as "a favourable economic and construction market" that continues to exhibit good growth prospects.  Demand was driven by growth in the residential RMI market and recovery in house building from a low base that is expected to gain momentum in the current year. 

The company reports that the year on a strong note.

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(Your email address will not be published)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?


Has there been a greater uptake from retailers sourcing British-made products in the face of Brexit?


Latest reader comments

re: B&Q invites suppliers to pitch at Innovation Open Day

Brian Eacersall
Hi B & Q innovations Team.I have already sent in an e-mail outlining my design using the request to become a supplier route.However I ...

re: Toolstation.com excels in Which? website survey

Muhammad idrees
Good service and price also good...

re: Mike Ashley calls Debenhams administration a “national scandal”

m orourke
How can senior management at debenhams stay in post whilst abdicating their responsibilies to a bunch of consultants to save the buisness ...

re: B&Q and Valspar partnership to "transform the paint market in the UK"

Tony Turner
A bit of context: first decorating undertaken in 1968, have continued to decorate at DIY and professional level ever since, Wife has ...

re: Builder wins Toolstation's prize draw pick-up

Brian Easton
Brilliant delivery, much help from Daniel and Shakil...

Most read stories