Woodie's owner Grafton Group has sold its specialist UK plumbing and heating business, Plumbase, for £66.75m (€74.9m). Woodie's owner Grafton Group has sold its specialist UK plumbing and heating business, Plumbase, for £66.75m (€74.9m). Taking into account adjustments, Grafton received net cash proceeds of £60.7m (€68m). Gavin Slark, CEO of Grafton Group, said: "This transaction represents a very positive outcome for Grafton and enables us to continue to focus our capital and resources on attractive growth opportunities that generate appropriate returns for our shareholders." Last year Grafton reported revenue of £2.95bn (€3.3bn) and adjusted operating profit of £194.5m (€218m).

Source: Irish Independent October 02, 2019 06:45 UTC