Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Builders merchant group Grafton increased UK turnover by 4.8% in the first 10 months of the year, according to an interim management statement issued today (November 9).
Group turnover was €1.73 billion compared to €1.70 billion in the same period last year and the UK business saw growth of 5% in the first half.
Irish merchanting turnover declined by 7.7% in the ten months, compared with a decline of 7.2% in the half year.
Uncertainty on the economy, low consumer confidence and tight lending conditions continue to limit growth in RMI volumes in the UK market. In Ireland, the economic environment is likely to make trading conditions challenging for some time ahead.
The Group expects full year operating profit before restructuring and amortisation costs to be in the range of €52 to €55m (2010: €50.6 m).
