Revenues at Woodies-owner Grafton declines but DIY retailer forecasts profitability for the year

In a trading update, the building materials distributor and DIY retailer said revenues declined 4.4% to £1.14bn in the first half of the year compared to £1.19bn in the same period a year earlier.

In a statement the company said it expects improved profitability at Woodies stores this year through “cost control”, while the company’s Chadwicks stores experienced a 5.4% volume growth. Picture: Eddie O'Hare

Woodies-owner Grafton posted a decline in revenue partly driven by a fall in housebuilding activity in the UK and weaker Irish retail sales in the last three months.

In a trading update, the building materials distributor and DIY retailer said revenues declined 4.4% to £1.14bn (€1.34bn) in the first half of the year compared to £1.19bn in the same period a year earlier.