StockMarketWire.com - builders merchants group Grafton said trading in the year to mid-March was 'broadly' in line with its expectations, but added that impact of Covid-19 on performance had intensified following government lockdown measures to contain the outbreak.

'The impact of Covid-19 became visible over the second half of March and intensified following the introduction of government restrictions leading to national lock downs,' the company said.

Construction activity had largely continued in the Netherlands, with the company saying it was currently trading at circa 90% of anticipated revenue.

From 4 May, many of its UK distribution branches would return to more extended operations and gradually expand their offering over the coming days and weeks, the company said.

'The majority of our UK distribution branches and manufacturing plants were closed on 24 March 2020 and the distribution business in Ireland was significantly scaled down on 28 March 2020,' it added. 'On the same date, trading in the Woodie's DIY, Home and Garden business was suspended except for on-line transactions.'




At 8:45am: [LON:GFTU] Grafton Group PLC share price was -18.25p at 659.25p



Story provided by StockMarketWire.com