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Grafton Group report 6% sales decline in 2020

Selco photo

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 Ireland
    o Particularly strong second half recovery by Chadwicks in Ireland and Selco in the UK
    o 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).

click for Grafton Group website


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