Grafton says the “encouraging development” – representing a 1% like-for-like revenue rise in the four months to the end of April – resulted from an improvement in the business’s competitive position and from increased turnover of plumbing and heating products, plus promotional campaigns.
Total group revenue for the period was up to €677m (2012: €676m), with trading influenced by adverse weather and continued economic weakness in group markets.
Average daily like-for-like revenue in Grafton’s UK merchanting business, which contributed 74% of group turnover, was marginally higher. Activity levels recovered during April.
Operating profits were marginally ahead of a year ago.
“While turnover in the first two weeks of May has seen some improvement, the group remains cautious about the near-term outlook for its businesses and is looking to a continuing reliance on internal initiatives to improve profitability,” the group said.
Grafton’s businesses include Jackson Building Centres, Selco, timber and sheet materials importer L&G Forest Products and the Northern Ireland-based merchant Macnaughton Blair, while in the Republic of Ireland its brands include Heiton Buckley and Cork Builders Providers.
