Grafton Group plc (GB:GFTU) has released an update.
Grafton Group plc reported a decrease in group revenue by 5% to £669.2 million in the early months of 2024, attributed to challenging market conditions, price deflation, and adverse weather in the UK and Ireland. Despite this, the company’s Irish retail business, Woodie’s, experienced positive growth, while UK Manufacturing saw a significant decline in demand. Grafton completed its £100 million share buyback program, repurchasing 11.1 million shares, signaling a continued focus on shareholder returns amidst a cautious market outlook.
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