Grafton Group H1 Earnings Fall

(RTTNews) - Grafton Group plc (GROUF), a building materials distributor and DIY retailer, on Thursday announced that its adjusted profit before tax fell in the first half compared with the previous year.

For the first half, adjusted profit before tax fell to 84.1 million pounds from 104.3 million pounds in the previous year.

Adjusted earnings per share were 33.4 pence versus 38.1 pence last year.

Adjusted operating profit decreased to 83.1 million pounds from 105.1 million pounds in the prior year.

Revenue declined to 1.14 billion pounds from 1.19 billion pounds in the previous year.

Further, the company continues to expect full-year adjusted operating profit in line with analysts' expectations, noting the importance of the upcoming Autumn trading season.

On Wednesday, Grafton Group is 1.05% higher at 862.20 pence on the London Stock Exchange.