Building supplies group Grafton said it was on track to meet profit targets for the year, despite some softening of activity in global markets.
The company, which owns the Chadwicks and Woodie’s DIY brands in Ireland, said group revenue was up 11.5 per cent in the 10 months to the end of October, reaching £2.13 billion (€2.4 billion). Growth in the period was supported by the impact of acquisitions, including the contributions from HVAC specialist distributor Salvador Escoda and five months of trading from HSS Hire Ireland.
Average daily like-for-like revenue in the four months to the end of October rose 1.6 per cent, but there was some fall-off in momentum in the final two months of the quarter.
That was also seen in both Chadwicks and Woodie’s trading, with the businesses showing slightly softer activity levels in September and October. Grafton pointed to weakness in recent construction PMI figures in recent months, along with a dip in housing commencements in Ireland. However, the ongoing housing shortage underpins the medium-term outlook for construction activity in Ireland.
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In the UK, average daily like-for-like revenue in the UK distribution business declined by 0.5 per cent, as trading activity weakened in October. The Netherlands saw an increase of 0.7 per cent, with growth slowing, while the Finland market’s weakness weighed on revenue there, falling 6.4 per cent.
The company carried out a seventh share buyback programme announced in September that has repurchased programme launched in September that buy back up to £25 million. This programme completed on 7 November 2025 and involved the repurchase of 2.74 million ordinary shares at an average share price of £9.14.
The group said it remains on track to deliver full year adjusted operating profit in line with expectations.
“The strength of Grafton’s business model is evident in our performance year to date. Overall revenue increased by over 11 per cent supported by continuing growth in building materials distribution in Ireland, Spain and the Netherlands and in retailing and manufacturing, helping to offset market weakness in the UK and Finland. Progress in the period means Grafton remains on track to deliver adjusted operating profit for the full year, in line with expectations,” said Eric Born, chief executive of Grafton.
“Though momentum has slowed somewhat in the period, the outlook for Grafton remains positive, supported by structural tailwinds, strong market positions in all geographies, significant recovery potential in the UK and Finland, a robust balance sheet and encouraging acquisitions pipeline.”
