Group turnover for the builders merchants and DIY group Grafton were up 4 per cent in the first four months of 2011, the firm said in an interim management statement.
The group, which owns the Woodie’s and Atlantic Homecare chains, as well as builders’ merchants businesses in Ireland and Britain, said turnover to the end of April totalled €642 million.
According to the statement, which was issued in advance of the company's annual general meeting in Dublin, average daily like-for-like turnover for its UK business increased by 5.8 per cent.
The rate of decline in turnover in Ireland moderated to 2.6 per cent which included growth of 4.6 per cent in the Irish retailing business, the group added.
Grafton said recovery in the residential repair, maintenance and improvement orientated sector in the UK, that accounts for over 70 per cent of group turnover, continued. However, it added that trading conditions in Ireland remained challenging because of weak demand and a lack of building activity.
The firm said an increase in turnover and lower cost base as a result of rationalisation measures adopted in recent years resulted in an improved group operating performance in the period.
Grafton said it believed it was well placed to benefit from a recovery in its markets.
In March the company announced pretax profits of €25 million for 2010, up almost 90 per cent on the preceding year. Operating profits almost doubled to €50.6 million in 2010 from €26.2 million in 2009.
