Woodies-owner Grafton Group sees profits decline nearly 30%

Grafton Group said that Woodies performed well during 2023 with revenue growing 3.9%. 

Woodies-owner Grafton Group saw a near 30% drop in adjusted operating profit during 2023 with challenges expected to remain into this year.

According to the company’s latest annual results, revenue increased only slightly by 0.8% to £2.32bn (€2.71bn). Operating profit declined 28.1% to £205.5m (€240m) compared to the £285.9m (€333.96m) during 2022.