Grafton records revenues of €2.1bn
Revenues at DIY and builders merchant group Grafton came to €2.17 billion last year, an increase of 5.8 per cent on 2011.
In a trading statement issued this morning, Grafton said trading ended the year on a stronger note with growth in the group's UK merchanting business and a slowdown in the decline of its Irish merchanting business.
UK merchanting turnover increased by 3.1 per cent in the year, while average daily like for like turnover increased by 1.7 per cent including growth of 3.7 per cent in the November/December period.
Irish merchanting turnover declined by 8.5 per cent for the year. The rate of decline in average daily turnover eased to 2.7 per cent in the November/December period.
Grafton, which operates builders merchanting stores and DIY retail shops in Britain, Ireland and, to a lesser extent, Belgium, employs more than 9,000 people.
The group said it expects operating profit for 2012 to exceed market expectations and be not less than €70 million.
"There will be a continued focus in 2013 on operational initiatives to improve profitability. These measures together with a portfolio of highly cash generative businesses and a strong balance sheet leave the Group well placed to benefit from a market recovery and provide the resources to invest in suitable development opportunities," it said.
The company's preliminary results for 2012 are expected to be announced on March 7th.