- Grafton Group posts an adjusted pre-tax profit of £65.0m for the six months to the end of June - 12% up on last time.

Revenue rose 13% to £1.23 billion (12% in constant currency) with growth broadly split between existing business and acquisitions.

Adjusted group operating profit before property profit rose 18% to £64.8m (2015: £55.1m) reflecting strong contributions from Ireland, the recent acquisition of Isero in the Netherlands and Selco in the UK.

On a statutory basis pre-tax profits rose by 8% to £62.8m. The divcidend of 4.75p per share is up 6%.

Chief executive Gavin Slark said: "Despite the more uncertain and competitive market conditions in the UK, Grafton continued to make good progress in its key markets enabling the Group to record revenue, profit and earnings per share growth as well as strong cash generation.

"£Both Ireland and the Netherlands continue to show strong growth with ongoing development opportunities. Grafton will continue to invest in areas of its business which combine good long term growth prospects and the opportunity to improve the Group's operating margin and return on capital employed."

At 8:09am: [LON:GFTU] Grafton Group PLC share price was -45.25p at 562.75p

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