Recovery ‘will be led by small contractors’

Building merchants’ group Grafton believes recovery in the construction sector will be led by small contractors who are seeing a pick up in business.

Grafton, which owns the Woodies DIY chain as well as building suppliers in the UK and Belgium, reported a 27% rise in operating profit last year. Grafton has built up a strong business in the UK following the crash in the construction sector.

The company reported a trading profit of €77.2m last year from revenues of €1.9bn, three quarters of which came from Britain.