Grafton Group chief wary of inflation impact on home spend
The parent company of Woodie’s and Chadwick’s reported a fall of 7 per cent in its first-half adjusted operating profit on the same period last year
The Grafton Group’s performance in the second half of the year could be a bellwether for the wider economy as people may put off home renovations due to inflation.
Gavin Slark, the chief executive of the Woodie’s and Chadwick’s parent company, said he will be closely watching consumer demand for home improvements in the coming months.
“If inflation is going up, interest rates are going up, and mortgages are more expensive. That can definitely have an impact on whether people have an extension built or have a kitchen refurbished. The higher-value project could certainly be impacted,” Slark told the Business Post.