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Market conditions hold Grafton back

Merchanting group Grafton Group plc saw revenue for the first half of 2019 rise by 2.4% according to a trading update issued this morning (July 10), ahead of its Interim Results which will be announced on Friday 30 August 2019.

Group revenue was £1.48 billion, up from £1.45 billion at this point last year. Like-for-like Group revenue increased by 3.9%.

Market conditions reflected weaker demand in the residential RMI and house building markets, with revenue growing 1.4% in the UK merchanting division and 7.4% in its Irish equivalent.

Chief Executive Officer Gavin Slark, 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.  Our current expectations for full year profitability, including the benefit of the recently completed Polvo acquisition, remain broadly unchanged.”

 

 

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

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