Grafton Group boosted by Cork-based Cygnum as it forecasts profits of up to €229m

Grafton, the owner of Woodies and Chadwicks, acquired the Macroom firm this year

Fri, 15 May, 2026 - 14:23

Martin Claffey

Irish building materials supplier Grafton Group is predicting the acquisition of Cork timber frame provider Cygnum to help offset weaker trading in the UK, as it forecast full year adjusted group operating profits of up €229m this year.

Grafton, the owner of Woodies and Chadwicks, held its AGM in Friday at the Irish Management Institute Conference Centre in Dublin. Ahead of the meeting, Grafton issued a trading update, where it revealed group revenue in the first four months of the year increased by 3.2% to £830.1m (€953.4), compared to £804.4m (€923.8m) a year earler. "This growth included the positive impact of two acquisitions in Ireland, including HSS Hire Ireland, which was acquired on May 31, 2025, and one month of trading by Cygnum, a supplier of offsite timber frame solutions," the company said.

Grafton expects full‑year adjusted operating profitof £190m- £200m (€229m).

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Cygnum was acquired by Grafton in March. Based in Macroom, Cygnum specialises in the design and manufacturing of timber frame structures, installing 1,250 timber frame housing units last year. An €8m extension to the Macroom production site was unveiled last month. "The acquisition of Cygnum will broaden Grafton’s exposure to the growing new‑build market in Ireland and enables Cygnum’s customers to benefit from access to a wider range of construction‑related products and solutions," the company reported.

Grafton's island of Ireland businesses delivered average daily like-for-like revenue growth of 1.8% compared to last year, driven by strong growth in Chadwicks. "Chadwicks benefited from a pick‑up in construction activity in recent months following persistently wet weather earlier in the year and some forward purchases ahead of price increases. Woodie’s trading was slightly behind strong prior‑year comparatives, when favourable weather in early spring 2025 pulled forward demand for plant and garden related products."

Across the group, Grafton said revenues in Britain fell 5% in the first four months of the year but Iberian markets were up 5%, and Northern European operations up 1.6%."The first four months of 2026 demonstrate Grafton’s resilience and strategic focus. While markets continue to face uncertainty, we are pleased to report growth in three of our four markets," said CEO Eric Born.

Grafton has not experienced material disruption to date due to the conflict in the Middle East but said it will continue to "actively manage supply chain risks arising from conflict", maintaining high levels of stock availability for customers. "Supplier price increases and higher fuel costs are being closely managed, while the group remains mindful that sustained cost inflation may place pressure on market demand and volumes."

Exports from Ireland tumbled by 51% in March 2026