Demand in Ireland still weak - Grafton Group

Challenging trading conditions have remained in Ireland due to weak demand in the residential markets and low levels of activity in the building market, according to Grafton Group.

The builders’ merchants and DIY group, however, has seen an increase of 4pc in turnover to €642m in the first four months of 2011 as decline in Ireland moderates and recovery continues in the UK market.

“The recovery in the mainly residential RMI orientated UK business, that now accounts for over 70pc of group turnover, continued through the period against a background of some uncertainty in consumer confidence,” Grafton said in its interim trading statement.

A Belgian builders’ merchanting business, in which the group has a 49pc stake, traded successfully and increased its annualised turnover to about €40m.

Grafton, which owns Woodie's DIY in Ireland, said its strong businesses and financial position leave it well placed to benefit from a recovery in its markets.

Source : Business & Leadership.com
http://businessandleadership.com/business/item/29835-demand-in-ireland-still/