herald

Wednesday 22 November 2017

RETAIL

Grafton group sees turnover up to e2bn

THE parent group of Woodies and Atlantic Homecare, Grafton, said that turnover grew by 2.5pc to around €2.05bn last year.

However, Grafton's Irish business continued to suffer which saw turnover for the year fall by an estimated 6.4pc.

The builders' merchants group said it is expecting its 2011 operating profits to come in at the upper end of its previously guided scale of €52m to €55m.

Grafton said it will be recognising a non-cash provision of €19m in its 2011 accounts, relating to "a small number of onerous leases in the Irish retailing business".

This follows the Government's decision not to proceed with legislation to end upward-only rent reviews for existing leases.

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