‘Broadly positive’ fourth quarter for Grafton Group
UK and Ireland-based building materials Grafton said on Tuesday that trading conditions in its final quarter of the year were “broadly positive”, on the back of strong growth in Ireland and it reiterated its full year operating profit guidance of about £125.5m – £127.0m for 2015.
Revenues in the year to December 31st 2015 rose by 6.3 per cent to £2.2 billion, while in Ireland, where Grafton operates the Woodies chain, revenues rose by 7.9 per cent in Q4, or by 10.1 per cent in the year :
“The merchanting business in Ireland continued to perform strongly as record low interest rates and growth in house prices and housing transactions supported increased activity in the residential repair, maintenance and improvement and new build markets against the background of an acceleration in the rate of growth in the Irish economy”, Grafton said.
Retail revenues rose by 7.9 per cent in the final quarter, or by 4.4 per cent in the year to December 31st, as Grafton reported strong second half revenue growth in the Woodie’s business.
UK manufacturing revenues experienced a “softening” in demand in the second half of the year as the rate of growth in the construction of new homes slowed.
