Builders merchant is down 拢19m on first four months of the year

Builders merchant Grafton has announced trading was down by 拢19m for the first four months of the year due to the bad weather in January.

The Irish merchant and DIY group, which does 70% of its trading in the UK, issued a trading update this morning in advance of its AGM in Dublin today. It said that trading in January dropped by 拢21m from the previous January.

However, work then picked up, with the group recording a turnover of 拢524m for the four months up to the end of April, down by 拢19m on the same period in 2009. The statement said the upturn that followed a dismal January was due to a 鈥渟trong resurgence鈥� in new housebuilding in the UK.

The firm is currently refinancing its debt and new arrangements are expected this autumn.

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