Proactive Investors - Run By Investors For Investors

Grafton Group highlights “strong start to the year” ahead of interim results

"Following a strong start to the year Grafton saw some easing of trends in recent months," said chief executive Gavin Slark
building materials
Revenue increased by 2.4%

Grafton Group Plc (LON:GFTU) has highlighted a “strong start to the year”, ahead of the release of interim results due at the end of August.

The building materials firm said that revenue rose by 2.4% to £1.48bn, and at constant currencies grew by 2.6%. Like-for-like group revenue improved by 3.9%, it added.

READ: Grafton gets revenues boost at the start of 2019

The FTSE 250-listed group noted that trading in the months of May and June was measured against very strong prior year comparatives.

In the UK, the company’s markets were softer than anticipated during the same months, reflecting weaker demand in the residential repair, maintenance and improvement and house building markets.

Chief executive Gavin Slark said: "Following a strong start to the year Grafton saw some easing of trends in recent months.  We expect a continuation of the positive trading conditions in our markets in Ireland and the Netherlands.

“Activity over the summer in the UK will be an important determinant of momentum entering the significant trading months of September through to November.” 

He added: “Our current expectations for full year profitability, including the benefit of the recently completed Polvo acquisition, remain broadly unchanged."

View full GFTU profile View Profile

Grafton Group Timeline

Related Articles

SigmaRoc quarry
April 18 2019
Founded in 2016, the firm looks to create value by purchasing assets in the fragmented construction materials market and forming them into larger groups to create efficiencies
Social care
February 01 2019
In the first half of the current year, the company said its health and housing pipeline had grown to 26 schemes with £222.5mln of gross development value

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use