Hardware store Grafton (including Isero and Polvo) grew rapidly in the first half of 2022.

Hardware store Grafton (including Isero and Polvo) grew rapidly in the first half of 2022.

With a 14.4% turnover increase, Grafton in the Netherlands has grown faster than the entire Grafton Group. The profit margin in the Netherlands also stands out in the group figures.

With a turnover of £168.7 million, Grafton Holland saw its sales grow by 14.4% in the first half of 2022. Adjusting for currency movements, the growth was up to 17.8%.

Grafton Group grows 12%

Good numbers for the Irish Grafton PLC subsidiary, which is mainly represented by the ironworks giants Isero and Polvo. But the Grafon Netherlands group also includes the sites of Gunters en Meuser, Scholte en de Vries Estoppey, Govers (4) and most recently Regts (5). The Grafton Group as a whole is active in Ireland, the United Kingdom, Finland and the Netherlands, and saw its sales grow by 12.2% to £1,153 million with a lower profit of 4.4%. This ‘adjusted operating profit’ is still £151m, which is a negligible 7.5% (adjusted operating profit margin).

Higher profit margin for Grafton in the Netherlands

With this group margin of 7.5%, Grafton Holland is very profitable for the group. Grafton Netherlands’ earnings grew by more than 32% (almost 40% adjusted for currency) to £21.2 million, bringing margin to 12.5%. Of the 361 branches of the entire Grafton Group, 123 are of Grafton Holland. Together, these Dutch subsidiaries make up just under 15% of Grafton PLC’s sales.

Here you can check out the full H2-2022 numbers from Grafton Group PLC.

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