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The share price of builders merchanting and DIY firm Grafton Group (LON:GFTU) rose by 4.21% to 729.50p (as of 13:35 GMT) after it announced that group revenues for the year ended 31st December were up by 8.7%. As a result, management believe that EBITDA for the year will be slightly ahead of the upper end of analysts’ expectations.
Chief executive Gavin Slark commented: “We are pleased with the strong performance over the year, with contributions from both organic growth and the Leyland SDM acquisition. The Group continues to benefit from its exposure to multiple geographies and its diverse customer base. The Group’s cash generative businesses, strong balance sheet and low level of net debt support our development strategy for the year ahead“.