- Building materials distributor Grafton said chief executive Gavin Slark and chief financial officer, David Arnold voluntarily took a 20% salary and pension contribution cut in the wake of the impact from the Covid-19 crisis.

The chairman, Michael Roney and the non-executive directors had also decided that their fees should be temporarily reduced by 20% with immediate effect, the company said.

'The board believes that these measures are appropriate given that the Covid-19 virus will lead to a material decline in revenue and profitability over the coming months as previously announced,' it added.

At 8:37am: [LON:GFTU] Grafton Group PLC share price was -22.25p at 577.75p

Story provided by