Sterling’s weakness in recent months impacted turnover at Ireland-based merchanting giant Grafton Group plc.
In an interim management statement, the group, which operates the the Buildbase and Jacksons chains in the UK, said turnover declined 14.5% to €2.35bn in the 10 months to October.
The group’s UK business actually grew turnover by 1.5% due to its significant exposure to the more healthy RMI market.
In Ireland, turnover was down by 18%, with like-for-like sales dipping by 19%.
Grafton said it continued to be profitable and cash generative and was dealing with weakening economic conditions from a position of strength.
