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Grafton adjusted profits rise

31 August 2017 08:39

Grafton's revenue rose by 9% to £1.3 billion in the six months to the end of June - up 6% in constant currency - and adjusted operating profit before property profit was up 19% at £77.0 million (2016: £64.8 million).

Grafton said it had a very good first half driven principally by organic growth across the group's businesses.

It said there was a significant improvement in all key measures of financial performance in the period, with a notable increase in return on capital employed to 13.2%.

Adjusted pre-tax profits rose by 16% to £75.4m.

The group has declared an interim dividend of 5.25p per share - up 11%.

Chief executive Gavin Slark said: "We are pleased to report that all geographies contributed to strong growth in revenue and double digit growth in profits and earnings per share in the first half.

"This encouraging outcome leaves us well placed to deliver our full year expectations."

At 8:39am: (LON:GFTU) Grafton Group PLC share price was +5p at 782.5p

Story provided by StockMarketWire.com

Related Company: GFTU

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