Grafton Group H1 Group Revenue Up

Building materials distributor and DIY retailer, Grafton Group plc (GFTU.L), on Thursday, in its trading update ahead of its half-year results, posted 46.5 percent growth in its Group revenue for first half, and said it is upgrading its forecast of adjusted operating profit for the current financial year.

For the half year, the Group's revenue grew 46.5 percent to 1.55 billion pounds from last year's 1.06 billion pounds, reflecting good underlying demand in the residential repair, maintenance and improvement and new housing markets.

Following a stronger first half performance, together with the inclusion of the second half returns from the IKH acquisition, the Group said it now expects its Group adjusted operating profit1 for the current financial year in continuing operations to be circa 240 million pounds. This is close to the current consensus forecasts of 243 million pounds, which comprises operating profit attributable to the discontinued operations, the Group noted.

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