- Building materials distributor Grafton said it remained uncertain about the revenue outlook for the second half of the year as better than anticipated performance in June was likely boosted by pent-up demand.

Trading in the month of June was 'more resilient than anticipated,' the company said as revenue rose 11.4% to £247.8m on-year, with the benefit of two additional trading days in the distribution and manufacturing businesses and revenue from the acquisition of Polvo in July 2019.

'Strong demand in June in our businesses in Ireland and Netherlands and in Selco in the UK was partly offset by a slower pace of recovery in the traditional distribution and manufacturing businesses in the UK,' the company said.

'While we were encouraged by the improved performance in June, trading during the month is likely to have been influenced by pent-up demand as Covid-19 restrictions were lifted and we remain cautious about revenue trends in the second half of the year,' it added.

For the half year ended 30 June, revenue fell 19.6% to £1.06bn on-year.

Story provided by