"The Group had a satisfactory performance in the period with development activity focused on expansion of the Selco branch network in the UK. The Irish and Netherlands businesses performed well and are attractively positioned to benefit from a relatively early stage recovery in the economic cycle and underpin the benefits to the Group of exposure to multiple markets." – Gavin Slark (10 November 2016).

2016 Half Year Results

Grafton Group plc announced its 2016 Half Year Results, on Wednesday, 31 August 2016, at 07:00 (BST).

The following information was released on the day.

 £m(1) H1 2016 H1 2015 Change
Revenue 1,228  1,084 +13%
Adjusted2,3      
Operating profit before property profit 64.8 55.1 +18%
Operating profit 68.4 61.2 +12%
Profit before tax 65.0 57.9 +12%
Earnings per share – basic 22.3p 20.2p  +10%
Statutory results    
Operating profit 66.1 61.2 +8%
Profit before tax 62.8 57.9 +8%
Earnings per share – basic 21.5p 20.2p    +6%
Dividend 4.75p 4.50p +6%
Net debt 95.7 51.1 +£44.6m
Return on capital employed3 12.1% 12.2%  (10bps)

(1) As amounts are reflected in £’m some non-material rounding differences may arise
(2) The term “adjusted” means before intangible asset amortisation on acquisitions and restructuring costs
(3) Additional information in relation to these Alternative Performance Measures (APMs) is set out on pages 31 to 36 of the 2016 Half Year Results Announcement