Weak comparatives give Grafton a boost in Q1

9th May 2014 07:35

Builders merchant and DIY group, Grafton, said it has made a strong start to the year with growth helped by weak comparatives in 2013.The company, which has operations in the UK, Ireland and Belgium, said that demand in its markets "has generally improved, supported by evidence of a continuing recovery in both the UK and Irish economies".Revenues totalled £654m in the first four months of 2014, up 13.5% from £576m in the same period of 2013 when results were dampened by poor weather conditions.Merchanting, which accounts for 90% of group revenue, benefited from growth in the repair, maintenance and improvement sector, that was driven by increased housing transactions, and a recovery in the new build market, Grafton said."We have had a positive start to the year against weak comparables from 2013," said Chief Executive Gavin Slark. "We are encouraged by the economic recovery and the continuing improvement in our principal markets and we look forward to building on the progress to date through volume growth in our markets, internal initiatives and an ongoing focus on efficiencies."BC