Companies

Grafton Group reports further fall in profits

Pre-tax profits at the Woodie’s-parent firm sank by 27 per cent last year amid ‘challenging marketing conditions’

The company saw a 9.1 per cent increase in its final dividend, up to 36p. Picture: Fergal Phillips

Operating profits at Grafton Group declined 30.7 per cent to £183 million in 2023, with the company citing “challenging market conditions” in its full-year results.

The Irish DIY company reported £2.32 billion in turnover, a slight (0.8 per cent) increase on 2023.

However, pre-tax profit also plummeted, from more than £250 million in 2023 to £183.1 million last year, as the firm’s overall profitability pulled back in the 12 month period.

In a statement, Grafton ...