Pictured: Gavin Slark, CEO of Grafton Group
Grafton Group, the building and DIY merchants group which began in 1909 with the establishment of Chadwicks Ltd, has reported a strong increase in growth with revenue for 2019 rising to €3.4 billion, an increase of 1 per cent on the previous year. Woodies, the retail arm of the group, achieved a ‘standout performance’ in 2019 with revenue up 3.7 per cent.
Grafton Group has reported a strong increase in growth with revenue for 2019 rising to €3.4 billion, an increase of 1 per cent on the previous year. The company, which is headquartered in Dublin, had a pre-tax profit increase of 4 per cent on the previous year.
The building and DIY merchants group, which began in 1909 with the establishment of Chadwicks Ltd by William Thomas Chadwick to supply builders merchants and major building contractors with Irish and imported cement and plaster, now includes Woodie’s, Telfords, Buildbase and ElectricBase, amongst others.
Last year, Grafton Group said that all of its merchanting brands in Ireland would be aligned as Chadwicks, with the exception of three destination branches. Over the course of 2019, twelve branches were upgraded and rebranded. The company has said the merchanting business continues to grow and expand its competitive advantage.
Woodies, the retail arm of the group, achieved a ‘standout performance’ in 2019 with revenue up 3.7 per cent. Investment in the network of 35 stores assisted operating profits to rise 18.8 percent.
The revenue growth in 2019 was aided by an increase in the supply of housing in the Midlands, the West and the Dublin commuter belt which accounts for a quarter of national housing output.
In July, Grafton Group acquired Polvo in the Netherlands which is showing solid growth in profitability. This increase of scale in the market is a strategy that CEO Gavin Slark says is ongoing with the company constantly looking at businesses and geographies.
Slark has predicted further growth for the company in 2020 but at a slower rate than previous years.
In the UK, a reduction in revenue was attributed to political and economic uncertainty with Slark saying that reduced uncertainty and political stability going forward may result in an uplift in the UK market.
