DIY sales taking a knock, warns Grafton - News Summed Up

DIY sales taking a knock, warns Grafton


A slowdown in consumer spending on home improvement has prompted a profit warning from one of Britain’s biggest suppliers of building materials. Grafton, which owns Chadwicks, Selco and Telfords, said that annual profit would miss expectations in an unscheduled update that sent its shares closing more than 10 per cent down. Founded in Dublin in 1909 as a supplier of cement and plaster, Grafton moved to the UK in 1988. The company, which is also the largest manufacturer of dry mortar in the UK, trades from about 500 branches and employs 12,300 people. It said that third-quarter sales in the UK had been affected by “weak underlying demand fundamentals as…


Source: The Times October 17, 2019 23:01 UTC



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