For the six months to 30th June 2025 Grafton Group generated revenue of آ£1,252m (2024 H1: آ£1,137m) and made a profit before tax of آ£83.5m (2024 H1: آ£71.7m).
Grafton’s UK distribution business returned to profit growth for the first time since 2021 despite a challenging market in the repair, maintenance and improvement (RMI) sector on which Grafton relies. “In the UK, we remain cautious on the near-term outlook for RMI demand,†the board said. “We are well positioned to capitalise on a recovery in demand, though believe a meaningful recovery of volumes is unlikely this year particularly as a result of recent speculation around property taxes.â€
Much of the group’s growth in the period was attributable to the acquisition of Salvador Escoda, one of Spain's leading distributors of heating, ventilation and air conditioning. Salvador Escoda turned over €232m in 2023. It was taken over in October 2024 by Grafton for €132m in the group's quest to spread its intrerntaional reach.
Grafton also enjoyed a strong half-year in its native Ireland, boosted by the acquisition of HSS Hire Irelandآ in April 2025.
Chief executive Eric Born said: "Grafton delivered a resilient performance in the first half, with revenue and profit approximately 10% higher than the same period last year, driven by strong contributions from Spain and Ireland.آ Following the platform acquisition of Salvador Escoda, non-UK markets now account for approximately 64% of the group's turnover.آ Given our ambition to be a leading player in the European building materials distribution market and our exposure to the growing and fragmented Iberian market, we would expect that diversification trend to continue.
"Whilst we saw an easing of trading momentum towards the end of May and into June, the start of the second half has seen a return to growth of Group average daily like-for like revenue.آ Outlook for the full year varies by market, but in the round, and with the important Autumn trading months to come, we expect full year adjusted operating profit to be broadly in line with analysts' expectations.â€
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