Interim Management Statement

RNS Number : 8647F

Grafton Group PLC

04 May 2011

 



Grafton Group plc

Interim Management Statement

Grafton Group plc, the builders merchants and DIY Group with operations across the UK and Ireland, issues the following Interim Management Statement in advance of the Company's Annual General Meeting to be held at 10.30am today in the IMI Conference Centre, Sandyford Road, Dublin 16.

Group turnover for the four months to 30 April 2011 was €642 million, an increase of 4.0 per cent compared to the corresponding period last year.  Average daily UK like for like sterling turnover increased by 5.8 per cent.  The rate of decline in turnover in Ireland moderated to 2.6 per cent which included growth of 4.6 per cent in the Irish Retailing business.

The recovery in the mainly residential RMI orientated UK business, that now accounts for over 70 per cent of Group turnover, continued through the period against a background of some uncertainty in consumer confidence. Trading conditions in Ireland were challenging due to weak demand in the residential RMI market and low levels of activity in the new build markets.

The increase in turnover and lower cost base as a result of the rationalisation measures adopted in recent years resulted in an improved Group operating performance in the period.

A Belgian builders merchanting business, in which the Group has a 49 per cent interest since January 2009, traded successfully and grew by acquisition during the period increasing its annualised turnover to circa €40 million.

The Group's strong businesses and financial position leave it well placed to benefit from a recovery in its markets.

4^th May 2011

For further information please contact:
Grafton Group plc + 353 1 216 0600	Murray Consultants + 353 1 498 0300
Michael Chadwick, Executive Chairman Gavin Slark, Chief Executive Designate	Joe Murray
Colm Ó Nualláin, Finance Director
	Citigate Dewe Rogerson + 44 207 282 2945
	Ginny Pulbrook

 

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