skip to main content
Find Insight DIY on
* * *

UK DIY News

Grafton Group reports 'good progress' in half-year trading

Grafton Group logo 1 725 x 500

Grafton Group has reported on half-year trading, covering the six months ended 30th June 2016.

A summary of the report is below, and the full publication can be found here.  An accompanying presentation can also be found here.

* Revenue up 13% to £1.23 billion (12% in constant currency) – growth was broadly split between existing business and acquisitions

* Adjusted Group operating profit before property profit growth of 18% to £64.8m (2015: £55.1m) reflected strong contributions from Ireland, the recent acquisition of Isero in the Netherlands and Selco in the UK

* Adjusted Group operating margin before property profit increased by 20bps to 5.3%

* Ongoing investment in Selco store opening programme - 50% increase in store numbers expected in the three years to June 2017

* Robust cash generation from operations of £108.0 million (2015: £73.2 million)

* 6% increase in dividend in line with progressive dividend policy

* Investment of £40.1 million on acquisitions and capital expenditure in H1 to support future growth

* Challenging backdrop in UK merchanting market but organisational restructuring to provide sustainable benefits in 2017

*Net debt of £95.7m was £17.9m lower than at 31 December 2015 resulting in gearing of 9%

Gavin Slark, Grafton Group CEO said:

"Despite the more uncertain and competitive market conditions in the UK, Grafton continued to make good progress in its key markets enabling the Group to record revenue, profit and earnings per share growth as well as strong cash generation. Both Ireland and the Netherlands continue to show strong growth with ongoing development opportunities. Grafton will continue to invest in areas of its business which combine good long term growth prospects and the opportunity to improve the Group’s operating margin and return on capital employed." 

Source : Grafton Group 
www.graftonplc.com

Sign-up for our weekly newsletter 
here.

If your business is interested in pricing intelligence or you're currently trying to track retail prices manually, there really is a much easier way. Just contact us here.

To advertise on the Insight DIY website and download our media pack, click here.




31 August 2016

Related News

view more UK DIY News
*

Insight DIY always publishes the latest news stories before anyone else and we find it to be an invaluable source of customer and market information.

*
Max Crosby Browne - CEO, Home Decor
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry