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6 months ago
BRIEF-Grafton FY profit up 12 pct, sees further growth desite Brexit pressures
March 7, 2017 / 7:14 AM / 6 months ago

BRIEF-Grafton FY profit up 12 pct, sees further growth desite Brexit pressures

March 7 (Reuters) - Grafton Group Plc

* Grafton - Adjusted fy operating profit growth of 12 percent to 142 million pounds, EBITA margin stable at 5.5 percent

* Grafton - Trading conditions in uk merchanting challenging in 2016, but ended on good revenue growth in Q4

* Grafton - Increase of 10 percent in dividend to 13.75 pence in line with progressive dividend policy

* Grafton - Jan, Feb average daily like-for-like revenue up 4.7 percent overall, 4 percent in UK merchanting, 13.9 percent in Ireland

* Grafton - Like-for-like 12.3 percent revenue decline in Belgium reflected very poor Jan trading, Feb recovery

* Grafton - Overall prospects for 2017 favourable, Ireland, Netherlands expected to support increase in profit

* Grafton - Modest UK volume growth expected against inflationary backdrop likely to have bearing on margins Further company coverage: (Reporting By Padraic Halpin)

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