Companies

Woodie’s owner forecasting profits over £200m for 2023

Grafton Group delivered ‘resilient’ first half performance, with full year revenues set to increase to £1.2 billion

The building materials company said inflation in the price of building materials had weakened consumer demand for DIY materials

Grafton Group, the owners of Woodies DIY and Chadwicks, is forecasting full year profits of more than £200 million for 2023, despite a “challenging” trading environment in the first six months of the year.

In a trading update released on Wednesday the listed building materials company said inflation in the price of building materials had weakened consumer demand for DIY materials, which resulted in a drop in sales volumes.

Despite this, the company said it ...