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Grafton have announced an 8% increase in dividend in line with their dividend policy

Investment Tools Ltd.
Grafton have announced an 8% increase in dividend in line with their dividend policy

Graftons interim dividend has been increased by 8.3 per cent to 6.50p from 6.00p. The increase is in line with the Board's progressive dividend policy which is based on increasing dividends as earnings grow.

Other financial highlights include:

Revenue up 2% to £1.4 billion - 3% increase in constant currency

Further positive progress towards medium term pre IFRS 16 financial objectives with adjusted operating margin increasing by 20 bps to 6.8% (2019 reported 7.2%) and ROCE up by 100bps to 15.0% 

Strong organic growth in Merchanting and Retailing businesses in Ireland

Good growth in Netherlands and scale of business increased with Polvo acquisition

Operating profit margin ahead in UK merchanting business in a softer market

Conditional agreement to exit the Belgium business announced today - business reclassified as held for sale / discontinued operation

Strong pre-IFRS 16 cash flow from operations of £118.9 million (2018: £109.7 million) (2019 reported £157.6 million)

IFRS 16 applies from 1 January 2019 - implementation of accounting standard has a significant impact on the measurement and presentation of the financial statements but no economic impact on the Group.

Companies mentioned

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