Grafton Group PLC reported first-half revenue of GBP1.34 billion, up 6.7% year-on-year, with adjusted operating profit rising 8.2% to GBP98.5 million and adjusted EPS up 10.8% to 39.4p. The company reaffirmed its full-year operating profit guidance of GBP190 million to GBP200 million and increased its interim dividend by 2.3% to 11p per share. Growth was driven by strong performances in the island of Ireland and Iberia, where like-for-like revenue grew 3.4% and 6.6% respectively, offsetting a 5.1% decline in Great Britain, where adjusted operating profit fell almost 30% due to weak market conditions. Acquisitions Signum and Mercaluth contributed GBP56 million of incremental revenue, with Mercaluth adding GBP6.5 million in operating profit. Net debt stood at GBP315 million, representing adjusted net debt to EBITDA of just under one times, and the company returned GBP75.5 million to shareholders through dividends and buybacks.
Grafton Group plcH1 revenue and profit up, guidance reaffirmed, dividend increased
Harbin Electric
