Grafton reports difficult trading conditions with 15% dip in turnover

Grafton, the builders’ merchant and DIY group with operations in the UK and Ireland, has reported “difficult trading conditions”.

Turnover has been 15% down at £2bn in the 10 months to the end of October.

The dip would have been lower – just 6% - if it hadn’t been for swings in currency exchange rates.

Grafton said: “Although new house building in the UK declined dramatically, the group's exposure to the RMI sector supported turnover which increased by 1.5% in sterling.

Grafton continues to be profitable and cash generative.