Grafton revenue up

Published:  06 November, 2012

DUBLIN: Grafton Group reports higher ten-month group revenue of €1.83bn against versus €1.7bn last year in its interim management statement issued today.

The company said translation of sterling revenue, which accounted for 76% of group revenue, up from 72% in 2011, and at a more favourable exchange rate to the euro contributed to the revenue growth for the period.

UK Merchanting sterling turnover went up by 3.6% in the ten months to October 2012. Trading in September and October saw average daily like for like sterling turnover up by 2.0% compared to a flat outcome for July and August.

Grafton is on course to report full-year operating profit, excluding restructuring and amortisation, at the higher end of market view. Increased operating profit was achieved in the ten months to October, despite difficult markets "through a disciplined focus on self-help measures" the company says.

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