Grafton Group plc is going from strength to strength in both Ireland and the UK.
By the end of 2003 it had completed 10 acquisitions at a cost of more than €200m and each of its larger acquired businesses, Jacksons, Plumbline and Telfords, traded in line with or above initial forecasts. Group earnings are expected to be on target.
A company spokesperson said timber accounted for a significant proportion of the group’s builders merchant operations in the UK – and that as business grew the timber element continued to grow with it.
Throughout 2003, through acquisitions, Grafton added 50 branches to its group network. There were also greenfield developments of 12 merchanting outlets, two Woodie’s DIY stores and a dry mortar plant, bringing the group’s network to more than 330 locations in the UK and Ireland.
Further growth is planned for 2004 with the development of greenfield locations, a seventh dry mortar plant in the UK and more Woodie’s DIY store openings in Ireland. The group also expects to benefit from further acquisitions.
