Woodies and Chadwicks owner Grafton Group suffered a 5 per cent decline in its British revenue, a trading update published on Friday shows.
The Dublin-based, London-listed, group said average daily like-for-like revenue in Britain declined by 5 per cent in the period compared with the prior year, reflecting “a further weakening in construction markets”.
“Following a weather-impacted slow start to the year, subdued construction activity was affected by rising cost inflation and weaker consumer confidence linked to the conflict in the Middle East,” the group told investors.
“All businesses have responded to the challenging market environment by maintaining tight cost control and driving efficiency improvements.”
The trading update, which covered the period January 1st to April 30th, said its island of Ireland businesses delivered average daily like-for-like revenue growth of 1.8 per cent in the period in comparison to last year driven by strong growth in Chadwicks.
