Sun shines on Grafton’s half year results

Grafton – owner of Selco, Woodies and other merchanting and DIY businesses – saw group revenue increase 8.6% to £1.45 billion (7.9% in constant currency) in the six  months to 30 June.

Like-for-like Group revenue increased by 3.8%. The Netherlands saw a significant 7.9% increase in like-for-like revenue across the six months. Grafton’s retailing arm rose 13.4% in revenue while its manufacturing section increased 21%.

Selco’s relentless store opening programme and the acquisition of Leyland buoyed the results, as did the hot and dry May and June.

Grafton Group CEO Gavin Slark said: “We were pleased with the Group’s performance in the first half though the trading pattern was heavily influenced by the weather.  The very cold conditions experienced in March and April have been followed by a hot and dry May and June which has benefited a number of businesses, particularly Woodie’s.

“In the UK, the Group’s growth has been influenced by the Selco store opening programme and the acquisition of Leyland SDM in February, where we are pleased with progress to date.  Our businesses in Ireland and the Netherlands continue to perform well.  We enter the second half well placed to deliver our expectations for the financial year.”