The Grafton Group has reported “excellent” growth across all its divisions in the first half of 2018.
The parent company of Selco, Buildbase, Plumbase and Leyland SDM in the UK released its Half Year Report for the Six Months Ended 30 June 2019 today.
Grafton’s revenue was £1.45 billion, up 9% from the same period last year. Merchanting accounted for 90% of this revenue, retail 7% and manufacturing 3%.
Retail profits were up 55% thanks to the strong performance of Irish DIY retailer Woodie. Manufacturing profits were up 33.7% and merchanting profits were up 11.8%.
Selco reported “double-digit revenue growth” due to the opening of seven more branches. Four more Selco branches are due to open next year.
Specialist decorators merchant Leyland SDM, which was acquired by the Group in February, generated revenue of £18.4 million, which was “in line with pre-acquisition expectations”.
Grafton’s other merchants - Buildbase, Plumbase, Buildbase Civils, MacBlair, and TG Lynes all reported “good profit growth”.
Chief Executive Officer Gavin Slark said: "We are pleased to report a strong first half performance across the Group with all segments reporting double-digit growth in profitability.
“Excellent organic growth in key markets has been complemented by the positive impact of self-help measures and development activity.
“We made further progress towards our medium term financial objectives and invested £120 million in the Leyland SDM acquisition and capital projects to support future growth in profitability."