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Grafton Group H1 LFL Revenue Up 3.9%; FY Expectations Broadly Unchanged

Grafton Group Plc (GFTU.L) said, for the half year to 30 June 2019, Group revenue increased by 2.4 percent to 1.48 billion pounds from 1.45 billion pounds, prior year, or up by 2.6 percent in constant currency. Like-for-like Group revenue increased by 3.9 percent. The Group noted that its trading in May and June was measured against very strong prior year comparatives. The interim results will be announced on 30 August 2019.

Looking forward, the Group said its current expectations for full year profitability, including the benefit of the recently completed Polvo acquisition, remain broadly unchanged.

Gavin Slark, CEO of Grafton Group 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."

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