Grafton Group Shares Rise on 6.7% H1 Revenue Growth

Shares in Grafton Group (LON:GFTU) rose on Monday after the Irish building materials distributor announced a 6.7% increase in revenue for the first half of the year and maintained its full-year profit outlook.

First-Half Trading Details

In a trading update, Grafton Group reported that total revenue for the first six months of the year reached £1.34 billion ($1.80 billion). On an underlying basis, average daily like-for-like sales saw a modest increase of 0.6% during the period.

The company highlighted a varied performance across its key markets. Strong results in its Irish and Iberian divisions helped offset weaker trading conditions in Great Britain, according to the statement.

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Market Reaction and Outlook

Following the announcement, Grafton Group's shares climbed approximately 2% to trade at 898.9 pence on Monday. The positive market sentiment was supported by the company's confirmation that its full-year profit forecast remains unchanged.

Grafton also noted that it has not experienced any material disruption to its operations from the conflict in the Middle East.