Grafton turnover tops €3.2bn

Turnover at DIY and builders' merchants chain Grafton topped €3.2 billion last year, an increase of 10 per cent on 2006, the company said yesterday.

Grafton said in a trading statement that earnings per share would come in at or "a little below" the market forecast of 86 cent.

The group, owner of the Woodies and Atlantic Homecare chains, said it experienced more "challenging conditions" in the Irish merchanting market during the year as house building activity began to slow.

As a result, sales declined slightly in the second half of 2007 when compared with the same period in the previous year. In a statement, Grafton said the business performed well against this background, mainly due to the commercial market and growing repair, maintenance and improvement activities.

Chief operating officer Leo Martin said yesterday that most of the group's branches "benefited very significantly" from repair, maintenance and improvement. Grafton expects the slowdown in housebuilding to continue this year.