Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Irish builders merchant group Grafton saw revenue rise to €1.83bn (£1.4bn) in the first 10 months of 2012, up from €1.73 bn (£1.3bn) last year.
In an interim statement the Grafton Group – whose UK brands include GMGB businesses Buildbase, Plumbase and Jacksons, as well as Selco – said it was on course to report full-year operating profit (before restructuring and amortisation) at the higher end of market expectations.
“Increased operating profit was achieved in the 10 months to October, despite difficult markets, through a disciplined focus on self-help measures,” the statement said.
In the UK, Grafton said its merchanting turnover increased by 3.6% in the 10 months to October 2012.
Grafton’s UK business accounts for 76 per cent of revenue, up from 72% in 2011.
Irish Merchanting turnover fell by 8.7% in the 10 months, a rate consistent with the half year.
Trading in September and October benefited from a strong performance by the plumbing and heating division and promotional activity.
