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But the building materials group said its Irish merchanting business, which includes the recently-acquired Heiton Group, was performing strongly.
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AnalysisIt has taken just one week for the competitive landscape for Irish merchanting and DIY to be changed utterly.
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Revenue at Grafton Group rose in 2019, with the Irish merchanting business putting in a strong trading performance as the year ended.
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Heiton chief executive Mr Leo Martin is expected to take charge of Grafton's Irish merchanting business after the two companies merge operations.
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Cost cutting measures helped improve the performance of the group's Irish merchanting and DIY retailing businesses, against a backdrop of continued weakness in the market.
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Revenue at Grafton Group rose in 2019, as strong growth in the Irish merchanting business helped offset the shadow cast by Brexit in the UK.
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Michael Chadwick, executive chairman of the builders suppliers chain, said that the company continued to see "high single-digit like-for-like growth" in Irish merchanting.
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Irish merchanting and DIY group Grafton said on Tuesday that it has agreed to acquire Dutch tool distributor Isero for €91.5 million.