Strong growth at the Buildbase and Jackson merchanting chains helped parent company Grafton Group plc to a 27% rise in pre-tax profits in 2003.
Dublin-based Grafton reported a pre-tax profit of €102m for the year ended December 31, with sales up 30% to €1.5bn. The group’s UK sales grew by 37% to more than €1bn – 74% of total group sales.
Grafton said its 87-branch Buildbase chain enjoyed an “excellent” year due to a positive repair, maintenance and improvement market, plus integration of a number of small chain and single branch acquisitions during 2002.
Buildbase has just received Forest Stewardship Council chain of custody certification for nearly 50 of its branches. The company, which worked with SCA Timber to achieve certification, expects its other depots to be certified shortly.
The UK business was also buoyed by the acquisition last year of the 18-branch Jackson Building Centres chain for €135.4m, intended to add critical mass in the East Midlands region. Further development of Jacksons will include opening a new site in Louth and refurbishment of the Swinton branch.
