Grafton Group’s first quarter sales grew by 4% to €642m compared to this time last year, thanks to continued recovery in its core UK residential RMI business.
A Grafton interim statement said average daily UK like-for-like sterling turnover increased by 5.8%, while the rate of decline in Irish turnover moderated to 2.6%.
Grafton’s residential RMI-oriented UK business now accounts for more than 70% of group turnover. Its continued improvement was despite a background of uncertainty in consumer confidence.
Trading conditions in Ireland were challenging due to weak demand in the residential RMI market and low levels of activity in the newbuild market.
“The increase in turnover and lower cost base as a result of the rationalisation measures adopted in recent years resulted in an improved Group operating performance in the period,” Grafton said.
