Strong profit growth at Grafton Group in 2015

Home maintenance and improvement has driven growth in Ireland

Strong profit growth at Grafton Group in 2015

WoodiesIE, Facebook

Grafton, the publicly-quoted builders merchanting and DIY group has announced a 15% increase in operating profits to £127m for the year to December on sales that were 6% higher at £2.2bn.

The group, the majority of whose operations are based in the UK and which also operates in the Benelux region, owns the Chadwicks Builders Merchants business in Ireland and the Woodies DIY retail network.

According to Grafton, the merchanting business here reported a significant increase in revenues and operating profit for the second successive year.

Sales in euros were up 11% to €355m while operating profits were 26% higher at €25.6 for Chadwick.

Woodies' posted a like-for-like sale increase of 4%, and a 46% jump in operating profit after a very difficult five or six years in the Irish DIY sector.

Grafton Chief Executive, Gavin Slark joined Newstalk Breakfast, he said that while large-scale home construction remains rare, business is being driven by smaller projects and home "repair maintenance and improvement."