Grafton Group has continued its positive streak of results with news of growth right across 2018, in its latest trading update.
Group revenue for 2018 was £2.95 billion, up 8.7% from £2.72 billion in 2017. Revenue growth in constant currency was 8.4% and average daily l-f-l revenue was up 4.3%. Growth moderated in November and December following above trend growth in September and October, as expected.
EBITA is expected to be slightly ahead of analyst expectations. We’ll have to wait until 28th Feb for the official Final Results from the group.
2018 saw the group dispose of two small ‘non-core’ businesses as well as the acquisition of Leyland SDM.
Gavin Slark, Chief Executive Officer of Grafton Group plc, commented: “We are pleased with the strong performance over the year, with contributions from both organic growth and the Leyland SDM acquisition. The Group continues to benefit from its exposure to multiple geographies and its diverse customer base. The Group’s cash generative businesses, strong balance sheet and low level of net debt support our development strategy for the year ahead.”