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).
These cookies are required for our website to operate and include items such as whether or not to display this pop-up box or your session when logging in to the website. These cookies cannot be disabled.
We use 3rd party services such as Google Analytics to measure the performance of our website. This helps us tailor the site content to our visitors needs.
We may use advertising services that include tracking beacons to allow us to target our visitors with specific adverts on other platforms such as search or social media. These cookies are not required but may improve the services we offer and promote.