Grafton Group plc (LON:GFTU) , the international builders merchanting and DIY Group, issued the following trading update for the period 1 January 2019 to 30 April 2019 in advance of its Annual General Meeting which will be held at 10.30am today in the IMI Conference Centre, Sandyford Road, Dublin 16.
Group Revenue
Group revenue for the four months to 30 April increased by 6.1 per cent to £962 million (four months to 30 April 2018 £907 million) and by 6.5 per cent in constant currency. Group like-for-like revenue increased by 6.4 per cent.
The Group benefitted from good revenue growth during the first four months of the year driven by a positive trading performance and more favourable weather compared to the same period last year. Growth in total revenue was impacted by the disposal of two non-core UK merchanting businesses in the second half of 2018.
The table below shows the changes in average daily like-for-like revenue and in total revenue compared to the same periods in 2018.
|
Segment |
Average Daily Like-for-Like Revenue Growth* |
Total Revenue |
|
|
Constant Currency |
Actual (Sterling) |
||
|
|
Four months to 30 April 2019 |
Four months to 30 April 2019 |
Four months to 30 April 2019 |
|
Merchanting |
|
|
|
|
– UK |
4.8% |
4.9% |
4.9% |
|
– Ireland |
10.7% |
10.7% |
9.3% |
|
– Netherlands |
3.5% |
8.0% |
6.7% |
|
– Belgium |
14.8% |
6.3% |
4.9% |
|
Retailing |
12.2% |
12.2% |
10.8% |
|
Manufacturing |
7.3% |
7.3% |
7.2% |
|
Group |
6.4% |
6.5% |
6.1% |
*Constant currency
Gavin Slark, Chief Executive Officer of Grafton Group plc commented today:
“The Group had a positive start to the year and we should continue to benefit from the momentum in our Irish and Dutch businesses. Underlying demand in the UK RMI market remains relatively subdued and we continue to focus on realising the benefits from the investments we have made in recent years into our higher margin Selco and Leyland SDM businesses.”
