Interim Results For the Six Months Ended 30 June 2006
Released: 13/09/2006
Record Sales, Profits and Earnings
Grafton Group plc, the builders merchants and DIY Group with operations in the UK and Ireland, announces its interim results for the six months ended 30 June 2006.
Financial Highlights | | 2006 | 2005 | Change |
Revenue | | €1.43 bn | €1.30 bn | UP 10% |
Operating profit* | | €106.9 m | €97.6 m | UP 10% |
Profit before tax | | €118.3 m | €87.4 m | UP 35% |
Basic earnings per share | | 42.8 c | 32.0 c | UP 34% |
Adjusted earnings per share * | | 33.0 c | 30.2 c | UP 9% |
Share purchase | | 8.25 c | 7.25 c | UP 14% |
Cash flow per share | | 53.6 c | 42.2 c | UP 27% |
*Before property profit and amortisation |
Operating Highlights
Irish merchanting traded strongly in a favourable market
Heitons continued to perform ahead of pre-acquisition expectations
Lower UK profitability in softer merchanting market
UK market now strengthening
Positive trading conditions in competitive Irish DIY market
Operations strongly cash generative
Commenting on the results today, Michael Chadwick, Executive Chairman said:
“The Irish economy provided a very favourable trading environment for the Group’s Irish merchanting and DIY businesses in the half year and profitability increased strongly. In line with the trends experienced in the second half of 2005, demand in the UK merchanting market was generally softer in the half year compared with the strong trading levels reported in the first half of 2005. The Group remains confident of continued growth in profits and earnings per share in 2006 and, with a very strong financial position and healthy cash flow, is well placed to take advantage of suitable acquisition and development opportunities.”
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