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

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Share Price:
Up 858.00p
Change Today:
13.50p
Market Cap:
2,047.50m
Sector:
Support Services

Grafton profits slip on weaker UK economy

By Frank Prenesti

Date: Thursday 27 Feb 2020

LONDON (ShareCast) - (Sharecast News) - A weakening UK market in the second half of the year saw UK builders merchanting group Grafton reported a slight fall in profits on Thursday.

The company said pre-tax profit fell to 172.6m, from 174.4m as revenue rose 3% to 2.7bn.

"Strong organic growth in our merchanting and retailing operations in Ireland and in the profitability of our Netherlands operations helped offset a challenging year in the UK due to political and economic uncertainty," said chief executive Gavin Slark.

"The outlook for 2020 is of continuing but moderating growth in Ireland and the Netherlands and while reduced uncertainty may lead to some uplift in the UK repair, maintenance & improvement market, we remain cautious about the speed of any recovery."

Grafton said the outlook for the Irish economy continued to be favourable with some moderation in growth anticipated from the high levels of recent years.

With the Irish economy recovering after years of austerity growth in domestic demand was expected to be driven by gains in employment and incomes which Grafton said should be positive for its merchanting and DIY businesses.

"Growth in house building is likely to be constrained by affordability relative to incomes and availability of mortgage finance," the company said.

In the Netherlands, economic growth was forecast to continue to moderate due to weaker exports while domestic demand was expected to be supported by tax cuts and growth in real wages, it added.

For the period from January 1 to February average daily like-for-like group revenue decreased by 0.4% made up of a decline 1.5% in UK merchanting, 2% growth in Irish merchanting, a 1.3% rise in Netherlands merchanting, a fall of 0.3% in retailing and growth of 6.75 in manufacturing.

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GFTU Market Data

Currency UK Pounds
Price 858.00p
Change Today 13.50p
52 Week High 990.00p
52 Week Low 371.00p
Volume 1,154,239
Shares Issued 238.64m
Market Cap 2,047.50m

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 27-Nov-2020

Time Volume / Share Price
16:35 399,465 @ 858.00p
16:29 3 @ 845.00p
16:29 2 @ 845.00p
16:29 1 @ 845.00p
16:29 2 @ 845.00p

GFTU Key Personnel