Grafton Group to report on half-year trading this week

This Wednesday, Grafton Group - owner of Woodies, Selco, Buildbase and others - will report on half-year trading.

The Dublin-headquartered builders merchanting business has already made known that that revenue for the six months ended June 30 rose by 13.3% to £1.23bn.  It is expected that underlying trading profit will be in the region of £68.6 million.

With operations in the UK, Belgium and the Netherlands, investors are eager to understand the extent of the impact of the Brexit vote on the Group's results.

Gavin Slark, CEO of Grafton, has previously stated that the EU referendum vote has created “uncertainty about the near-term outlook and prospects for the economy”, and believes this will affect demand in the new housing and RMI markets this year.

Analysts at Peel Hunt believe that Grafton will report satisfactory results, similar to those of its competitors. Gavin Jago said:

“While we do not expect it to be easy to achieve growth in the UK RMI market over the next few years, we believe Grafton has scope to expand its share as well as benefiting from growth in Ireland.”

Source : Insight DIY

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