Companies

Grafton Group reports falling revenues after poor weather leads to ‘subdued’ first quarter

The company, which owns Woodies and Chadwick’s in Ireland, said the weaker economic outlook also hampered sales in the first three months of 2024

David Arnold Chief Financial Officer and Eric Born Chief Executive Officer at the Grafton Group plc AGM at IMI in Sandyford, Dublin. Picture: Gareth Chaney

Grafton Group, the owner of Woodies DIY and Chadwick's, has reported a subdued start to its 2024 financial year due to poor weather conditions in some of its core markets and a weaker economic outlook.

In a trading update to investors, the company said its revenues for the first quarter of 2024 declined 5 per cent year-on-year to just over £669 million.

Grafton blamed the “softer” trading update on the prevailing macroeconomic conditions in its ...