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Grafton Group reports 6% rise in revenue

Grafton Group logo 1 725 x 500

Grafton Group plc ("the Group"), the builders merchanting and DIY Group with operations in the UK, Ireland, Belgium and the Netherlands, announces its final results for the year ended 31 December 2015.

Financial Highlights
· Revenue up 6% to a record £2.21 billion (8.9% in constant currency)
· Adjusted Group operating profit* up 15% to £126.8 million from £110.1 million
· Adjusted Group operating profit margin* increased by 40 basis points to 5.7% from 5.3%
· Adjusted Group profit before taxation* up 17% to £118.9 million from £101.2 million
· Adjusted basic earnings per share up 19% to 41.0p
· 16% dividend increase reflects strong improvement in profitability
· Strong cash generation from operations of £139.3 million and year-end gearing of 12%
· Return on capital employed increased by 110 basis points to 12.2%

Operating Highlights
· UK merchanting business continued to generate good revenue and profit growth
· Selco performed particularly strongly and opened five new branches
· Significant improvement in Irish merchanting business supported by improving economic and construction trends
· DIY business in Ireland back on a growth path
· Successful entry into the Netherlands merchanting market on completion of Isero acquisition

Gavin Slark, Chief Executive Officer commented:

"Grafton made continuing progress in 2015 producing record revenue and solid growth in operating profit.   We continued to invest in organic growth initiatives and selective acquisitions, most notably Isero in the Netherlands.  We are confident about the overall prospects for the Group and expect to deliver organic growth in the year ahead and to also benefit from recent development activity as well as exposure to the strengthening economies in Ireland and the Netherlands."

Review the full Grafton Group results publication here

Source : Grafton Group PLC



09 March 2016

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