2023: Grafton Group's adjusted operating profit declines 28.1% to £205.5m amid cost-of-living challenges and reduced home improvement spending.

Grafton Group, parent company of DIY retailers Woodie's and Chadwicks, reported a 28.1% decline in adjusted operating profit to £205.5m in 2023. Despite this, revenues slightly increased to £2.32bn from £2.3bn in 2022. The group attributed the decline to cost of living challenges leading to reduced home improvement spending and slowing demand for new homes due to rising costs. Despite the decline, the group's profits were still above the top end of analyst forecasts.

March 07, 2024
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