Grafton trading stays in line despite slump in DIY

Grafton group has announced that trading for the first six months of the year was in line with market expectations.

The building materials and DIY group said Heiton has performed ahead of last year’s levels since it was bought in January.

The Irish merchanting businesses are achieving high single-digit sales growth and therefore have become a more significant contributor to the group especially following the continued strength of the Irish economy.

DIY sales are growing on the back of new store openings and relocations to larger outlets.

UK merchanting operations experienced low single-digit sales growth overall for the first six months in a softening market.

The group’s UK merchanting operations, plumbers merchanting sales were down on the same period last year affected by weaker retail spending.

Turnover in the EuroMix dry mortar business was similar to that recorded in the same period last year in more competitive trading conditions as a result of an increase in the number of competitor locations across the UK.

The group’s financial position remains strong with increased levels of cash flow in the first half.