Grafton Group increases its 2017 interim dividend by 11%
· Revenue up 9% to £1.3 billion - 6% increase in constant currency
· Adjusted operating profit before property profit up 19% to £77.0 million (2016: £64.8 million)
· Strong organic growth in the Irish Merchanting, Woodie's DIY and Mortar Manufacturing businesses
· Increase in scale and profitability of the Netherlands merchanting business
· Recovery in profitability in traditional UK Merchanting business
· Continued successful investment in Selco with the opening of nine branches in the year to date and at least two more due to open by the year end
· Another period of strong cash generation with net debt declining to £80.2 million at 30 June 2017 - gearing of 7%
· Continued investment to support future profit growth with £68.6 million deployed on acquisitions and capital expenditure
· 11% increase in dividend in line with progressive dividend policy
