Fine weather boosts Grafton’s merchanting businesses

With no ‘Beast from the East’ to contend with, Grafton’s Q1 financials saw growth compared with Q1 2018.

Group revenue for the four months to 30 April increased 6.1% to £962 million (2018: £907 million) and by 6.5% in constant currency.

Grafton, which acquired Netherlands-based Polvo last month, saw like-for-like revenue rise 6.4%.

The favourable weather combined with a positive trading performance benefitted the business, however growth in total revenue was impacted by the disposal of two non-core UK merchanting businesses in the second half of 2018.

“The Group had a positive start to the year and we should continue to benefit from the momentum in our Irish and Dutch businesses,” said Grafton CEO Gavin Slark.

“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.”