Group revenue has grown for Grafton, with the merchanting division increasing despite pricing pressures in a competitive trading environment.
Grafton's merchanting business (largely through the Buildbase and Plumbase brands) accounts for 92% of Group Revenue and it grew modestly in the four months to the end of October - up 1.2% in the UK, up 11.4% in Ireland and up 5% in Belgium.
Selco - the UK's fourth largest merchanting business after Buildbase, improved market coverage with new branches in Wolverhampton, Portsmouth and Mitcham. Through two additional branches - in Croydon and Wembley - opening by the end of 2016, the number of branch openings this year will reach seven, to a total of 47.
Overall group revenue for the ten months to 31st October was £2.11 billion, up 12.8% on revenue of £1.87 billion in the corresponding period in 2015 - and an increase of 10% in constant currency.
"The Group had a satisfactory performance in the period with development activity focused on expansion of the Selco branch network in the UK," said Gavin Slark, Grafton Group CEO. "The Irish and Netherlands businesses performed well and are attractively positioned to benefit from a relatively early stage recovery in the economic cycle and underpin the benefits to the Group of exposure to multiple markets."
Grafton's Merchanting segment trades from over 600 branches, principally under the Selco, Buildbase and Plumbase brands in the South East, Midlands and North of England, under the Chadwicks and Heiton Buckley brands in the Republic of Ireland and under the Macnaughton Blair brand in Northern Ireland. Grafton trades under the YouBuild and MPRO brands in Belgium and the Gerritse, Breur Ceintuurbaan and Van der Winkel brands in the Netherlands.
