BUILDERS MERCHANTS: A-Z G Turnover £m Gross profit £m
Operating profit £k Net profit £k Staff
THE RATIOS Stockturn Gross margin %
Operating margin % Net margin %
Sales/employee £k Profit/employee £ Return on capital % BMJ INDEX
2016 7.4
25.5 1.3 0.4
224
5,029 2.6
GRAFTON MERCHANTING GB’s year-end results for 2019 were received too late to be included in the Trailblazers tables. However, the £2,924m reported revenue was 1% down on the previous year. Good growth in the Irish and Dutch businesses was cancelled out by a fall in the performance of the UK merchanting businesses. New branches, mainly from Selco generated revenue growth of £14.5m, and the Leyland SDM decorators merchant acquisition
Grant & Stone
Established in 1987, Grant & Stone has three specialist building, plumbing and electrical divisions, giving it 29 branches across the Thames Valley, consisting of builders’ merchants, electrical wholesalers, plumbers’ merchants, timber merchants, as well as eight kitchen and bathroom showrooms. There is also an ecommerce subsidiary, Trading Depot, launched in March 2008.
Headquartered in High Wycombe, Grant & Stone employs 360 people and in 2019, achieved revenues of £100m. In November 2019, it was acquired by private equity firm Cairngorm Capital.
Cairngorm Capital’s investment was led by Andrew Steel, managing partner and Stuart Whiteford, investment director. Steel said: “Grant & Stone is an excellent example of the sort of business in which we like to invest. Its
22
2017 7.6
25.8 1.6 2.2
249
6,989 14.0
2018 7.2
25.6 2.0 2.8
249
8,358 15.5 49
• GRAFTON MERCHANTING GB • GRANT & STONE
TRAILBLAZERS Grafton Merchanting GB
GRAFTON MERCHANTING GB THE NUMBERS
2016
1,121.7 286.5
25,237 4,065 5,018
2017
1,138.6 293.9
31,967 24,976 4,574
2018
1,178.5 301.7
39,526 32,465 4,729
% CHANGE
2017 2 3
27
514 (9)
2017 1 1
27
505 11 39
432
2018 4 3
24 30 3
% CHANGE
2018 (5) (1) 24 26 0
20 11
contributed revenue growth of £6.1m. Selco Builders Warehouse’s annual revenue was in excess of £0.5 billion. A new branch was opened in Kingston-Upon-Thames at the end of November increasing the branches to 67 including 39 in London. Already this year a new branch has opened in Orpington; other plans are for Salford and to relocate the Bristol branch and expand capacity in the Chessington branch.
Leyland SDM, the largest
employees, technical know-how and customer service are all exceptional. We are delighted to contribute the investment funding and industry expertise to support Nick and his leadership team in the next stage of Grant & Stone’s growth.”
GRANT & STONE
Unit 2 Mill End Road High Wycombe Buckinghamshire HP12 4AX
www.grantandstone.co.uk
Number of Subsidiaries: 2 Number of Branches: 29 Number of Employees: 260 2017 Recorded Turnover: £81.4m 2018 Turnover: £98m
CEO Nick House Chairman: David Moore Managing Director: Matt Bland Commercial Director: Peter Cudd Managing Director Electrical/ Trading Depot: Darren House
Members of: BMF, NBG
GRANT & STONE THE NUMBERS
Turnover £m Gross profit £m
Operating profit £k Net profit £k Staff
THE RATIOS Stockturn Gross margin %
Operating margin % Net margin %
Sales/employee £k Profit/employee £ Return on capital % BMJ INDEX
16/17 6.8
30.8 8.6 8.5
271
23,225 43.9
17/18 5.0
32.8 8.9 8.9
261
23,174 38.8
18/19 5.5
30.2 6.5 6.5
262
16,960 30.4 695
16/17 70.9 21.8
6,085 6,055 262
17/18 72.2 23.6
6,396 6,404 276
18/19 86.3 26.1
5,580 5,582 329
% CHANGE
17/18 2 8 5 6 5
17/18 (26) 6 3 4
(3) (0)
(12)
18/19 20 10
(13) (13) 19
% CHANGE
18/19 9
(8)
(27) (27) 0
(27) (21)
specialist decorators’ merchant in London that trades from a unique portfolio of high street locations in the city, performed strongly despite flat market conditions. The business was acquired in February 2018 .The Camden, London Bridge and Shoreditch branches were upgraded during the year and the first new branches under Grafton ownership were opened in Maida Vale and Streatham.
Trading conditions at Buildbase started to weaken in the second quarter and the rate of decline on the prior year intensified through to the year end. Subdued economic growth and political uncertainty contributed to weak consumer sentiment leading households to hold off on spending on RMI projects. Lower volumes and more competitive pricing resulted in a reduction in operating profit. Civils & Lintels, a distributor of heavyside building materials, increased revenue and profitability from supporting its groundworks
GRAFTON MERCHANTING GB
Gemini One, 5520 Oxford Business Park South, Cowley, Oxford OX4 2L
www.graftonplc.com Tel: 0845 168 5827
Brands: Buildbase, Civils & Lintels, Corgi Direct, Hendricks Lovell, TG Lynes, Hirebase, Jacksons Building Centres, L&G Forest Products, PDM, Nationwide Drylining & Insulation, Secon, Electricbase and Sparesbase, Selco Branches: 617 Employees: c.5320
Chief executive: Gavin Slark Buildbase Managing Director: Paul Roche
Buildbase Commercial Director: Lyndon Johnson
Electricbase general manager: Paul Simister Hirebase md: Adrian Watts TG Lynes: Martin Hastings Buildbase Civils & Lintels md: Allan Wright IBuildbase regional md, southern: John Drennan Buildbase regional md, northern: Justin Scarborough Members of: BMF, CPA
and civils sub-contractor customer base who operate in the new housing market. The new Leeds branch that opened in 2018 performed strongly growing market share in the North of England. In Scotland, the Buildbase branches were carved out and together with PDM, the market leader in the Civils market, now trade as PDM Buildbase Scotland.
A supplement to Builders Merchants Journal April 2020
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