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Prices & Quotes - UK Markets - Grafton Group Ut (GFTU)

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Share Price:
Up 885.00p
Change Today:
5.00p
Market Cap:
2,111.93m
Sector:
Support Services

Grafton reports better-than-expected end to 2019

By Frank Prenesti

Date: Tuesday 14 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Builders merchant Grafton on Tuesday reported better-than-expected trading conditions in November and December despite a weaker UK market.
The group now expected to report full year adjusted operating profit of around 202m and 190m on a pre-IFRS 16 basis for its continuing operations.

Group revenue from continuing operations increased by 2.7% in 2019 to 2.67bn. Growth in constant currency was 2.9% and average daily like-for-like revenue rose 1.9%.

Reported property profit for 2019 is expected to be circa 7 million, slightly higher than anticipated.

UK customers continued to be very cautious about discretionary spending as Brexit-related uncertainty persisted during the fourth quarter and sentiment continued to weigh on demand in the merchanting market, Grafton said in a trading statement.

However, the weak markets of September and October continued into November and December "but did not deteriorate further", it added.

"The group's focus in the UK remains on tight control of costs, driving efficiency and delivering productivity gains."

The Irish merchanting business in Ireland saw volumes recover in November and the group's Chadwicks business finished the year on a firmer note.

In the Netherlands, the impact of softer fourth quarter trading was largely offset by positive gross margin trends supported by procurement gains and integration benefits.

The Woodie's DIY, home and garden business in Ireland delivered a strong trading performance in the fourth quarter and for the full year overall.

Chief executive Gavin Slark said the company still remained cautious about the timing of any recovery in the UK merchanting market, but expectations for 2020 were positive for the overall group and "we are optimistic about growth opportunities".

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GFTU Market Data

Currency UK Pounds
Price 885.00p
Change Today 5.00p
52 Week High 990.00p
52 Week Low 371.00p
Volume 458,532
Shares Issued 238.64m
Market Cap 2,111.93m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 10
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GFTU Dividends

  Latest Previous
  Interim Final
Ex-Div 26-Sep-19 07-Mar-19
Paid 11-Oct-19 05-Apr-19
Amount 6.50p 12.00p

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 111,365 @ 885.00p
16:32 3,018 @ 884.50p
16:32 27,670 @ 884.50p
16:29 3 @ 884.50p
16:29 150 @ 884.50p

GFTU Key Personnel