Ireland-headquartered Grafton Group plc. (GFTU.L), a building materials distributor on Thursday announced lower revenues and profits for the year 2024. The company raised the full-year dividend and also announced a 30-million Pound share buyback.
Profit before tax declined to 152.5 million pounds versus 183.5 million pounds in the prior year.
Profit after tax stood at 122.01 million pounds or 60.86 pence per share as compared with 148.7 million pounds or 69.55 pence per share in the prior year.
Full year adjusted operating profit also declined to 177.5 million pounds from 205.5 million pounds in the prior year. The Grafton compiled consensus Analysts' forecasts for 2024 had showed adjusted operating profit of approx. 169.1 million pounds.
Revenue decreased to 2.28 billion pounds from 2.32 billion pounds in the year ended December 31, 2023.
The full year dividend was increased by 2.8 per cent to 37 pence from 36 pence in the previous year.
The company also announced that it has entered into arrangements with Goodbody Stockbrokers UC to conduct a further share buyback programme for a maximum aggregate consideration of up to 30 million pounds. The maximum number of shares which can be repurchased under the programme is approx. 17.03 million shares.
The buyback would commence on Thursday, March 6 and would end no later than August 31. The purpose of the buyback is to reduce the share capital of the company and the shares that would be repurchased on the London Stock Exchange would be cancelled.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.