Grafton Group Releases Half Year Results

Grafton Group plc, the international building materials distributor and DIY retailer is pleased to announce its half year results for the period ended 30 June 2021.

Operational Highlights

• Strong performance across the Group and a notable record contribution from the Woodie’s DIY, Home and Garden business in Ireland

• Agreement to divest Traditional Merchanting Business in Great Britain for an enterprise value of £520 million

• Completed acquisition of IKH in Finland on 1 July 2021

• Good contribution from StairBox acquisition which performed ahead of plan

• Continued progress of sustainability agenda

  Financial Highlights

• Record half year adjusted operating profit of £142.4 million (before property profit)

• Record Group adjusted operating profit margin of 13.9% (before property profit) and adjusted

  return on capital employed of 20.5%

• Record half year cash generation of £255.3 million from all operations

• Net cash at 30 June 2021 of £302.5 million (before IFRS 16 lease liabilities)

Gavin Slark, Chief Executive Officer Commented:

“I want to thank all of our colleagues for their tremendous contribution and commitment in delivering an exceptional first half outcome in which Grafton achieved record operating profits and margins as well as record cash generation.

2021 marks a key phase of a very considered strategic transformation we have executed at Grafton over recent years, which today comprises a portfolio of high returning, differentiated businesses with the capacity to grow and outperform in our chosen markets.

The overall outlook for the Grafton businesses is positive given the strength of our current market positions, geographic diversity, strong balance sheet and investment pipeline, alongside supportive sector and macro trends together with the successful rollout of vaccines to date in the four countries where the Group now operates.”

Source: Insight DIY & Grafton Group

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.