
Grafton Group full year results for the Year Ended 31 December 2020 show revenue in continuing operations down 6% to £2.5 billion, reflecting the impact of first half branch closures in response to the pandemic. It was a classic 'game of two halves' with branch closures due to Covid-19 reducing first half revenue by around a fifth compared to last year, and a partial recovery to growth of 7% in the second half.
- Full Year operating profit in continuing operations down 6% to £193.3 million and 4% before property profit.
- Strong recovery in profitability in second half with adjusted operating profit up 47%, reflecting robust residential repair, maintenance and improvement markets in the UK and Ireland:o Exceptional performance by Woodie’s DIY, Home and Garden business in Irelando Particularly strong second half recovery by Chadwicks in Ireland and Selco in the UKo Strong second half recovery in Buildbase aided by increased margin and cost control
- First half revenue was down by 19.4 per cent to £1.06 billion (2019: £1.31 billion) and adjusted operating profit before property profit declined by 58.9 per cent to £39.1 million (2019: £95.1 million).
- Second half revenue increased by 6.8 per cent to £1.45 billion (2019: £1.36 billion) and and adjusted operating profit before property profit increased by 47.5 per cent to £151.6 million (2019: £102.8 million).