Grafton Group plc (LON:GFTU)), the international builders merchanting and DIY Group, announces its final results for the year ended 31 December 2018.
Highlights
· Revenue up 9% to £2.95 billion – 8% growth in constant currency
· Significant progress towards realising medium term financial objectives – operating profit margin up 60bps to 6.6% and ROCE up 140bps to 15.0%
· Strong organic growth in Ireland and Netherlands Merchanting
· 12% increase in profit in UK Merchanting with significant contribution from Leyland SDM acquisition
· Excellent performances in Woodie’s Retailing in Ireland and Mortar Manufacturing in UK
· Strong cash flow of £209.2 million generated from operations
· 16% increase in dividend – sixth consecutive year of double-digit growth
Gavin Slark, Chief Executive Officer commented:
“2018 was another year of strong delivery against our medium-term targets achieved through a combination of organic and acquisition led initiatives. Grafton continues to benefit from exposure to the fast growing Irish and Dutch markets and from strong underlying demand fundamentals in the UK market. The Group’s excellent cash generation from operations, good liquidity and strong balance sheet should continue to support the development of the business.”
