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Grafton annual profit falls 23% as branch closures in H1 bite; resumes dividend
StockMarketWire.com
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Building materials distributor Grafton resumed its dividend but at lower rate than last year, after reporting annual profit fell by nearly quarter owing to first-half branch closures as result of the pandemic.
For the year ended 31 December 2020, pre-tax losses fell 23% to £132.7 million as revenue slipped 6.1% to £2.5 billion.
The dividend for the year was slashed by 23.7% to 14.5 pence.
In the period from 1 January to 21 February, average daily like-for-like group revenue reduced by 1.0%., comprised of a decrease of 0.9% in UK distribution, a decrease of 12.7% in Irish distribution and an increase of 1.1% in the Netherlands distribution.
Story provided by StockMarketWire.com
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