StockMarketWire.com - Merchanting and DIY Group Grafton reported a modest uptick in revenue amid some easing of trends in recent months following a strong start to the year as market conditions in UK markets were softer than expected.

For the half year to 30 June 2019, group revenue increased by 2.4% to £1.48bn and by 2.6% in constant currency. Like-for-like Group revenue increased by 3.9%.

The slight increase in revenues was also blamed on tough comparatives following 'very strong' trading in May and June last year.

Market conditions in the Group's UK markets were softer than anticipated during these months reflecting weaker demand in the residential repair, maintenance and improvement and house building markets.

The company, however, singled out the summer period as key to regaining momentum.

'Activity over the summer in the UK will be an important determinant of momentum entering the significant trading months of September through to November,' the company said.

'Our current expectations for full year profitability, including the benefit of the recently completed Polvo acquisition, remain broadly unchanged.'










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