UK DIY News
Grafton Group 2011 Final Results
Grafton Group has today released final results for the 2011 financial year. A summary of highlights and key figures can be found below, and more details can be found in the ‘Industry Articles’ section of this website:
HIGHLIGHTS
• Revenue up 3% to €2.05 billion
• Underlying operating profit up 13% to €54.7 million and €56.9 million excluding amortisation
• Underlying profit before taxation up 3% to €42.3 million
• Underlying adjusted basic earnings per share of 15.4 cent
• Strong cash flow from operations of €96.9 million
• Dividend per unit up by 7% to 7.5 cent including second interim dividend of 4.75 cent
• Like for like turnover growth of 4.3% in the UK merchanting business
• UK revenue and profits increase
• Significant action taken on restructuring
Figures given in €millions 2011 / 2010
Revenue: 2,054 / 2,004
Underlying (before exceptional items):
Operating profit*: 54.7 / 48.4
Profit before tax*: 42.3 / 40.9
Profit after tax*: 33.7 / 79.4
Adjusted basic earnings per share: 15.4c / 18.5
Statutory:
Operating profit: 22.7 / 33.0
Profit before tax: 10.3 / 25.6
Profit after tax: 2.5 / 64.0
Earnings per share – basic: 1.1c / 27.7c
Dividend for year: 7.5c / 7.0c
* Includes an intangible amortisation charge of €2.2 million (2010: €2.2 million)
Gavin Slark, Chief Executive Officer commented:
“The turnaround in performance that commenced in 2010 continued in 2011 in challenging markets with savings realised from cost reduction programmes. The Group is well positioned to make further progress in what we believe will be subdued markets in 2012. We will continue to focus on margin enhancement, cost management and cash generation and evaluate value adding expansion opportunities.”
Source : Grafton Group
http://investor.graftonplc.com/grf/media/press/pressrelease/?id=5409477
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