Grafton Group (GFTU) Trading Update summary

Trading and revenue performance

• Group revenue reached £2.13 billion for the ten months to 31 October 2025, up 11.5% year-on-year, supported by M&A activity including Salvador Escoda and HSS Hire Ireland.

• Average daily like-for-like revenue for the group rose 2.1% year-to-date, with 1.6% growth in the most recent four months, though momentum eased in the last two months.

• Ireland, Spain, and the Netherlands saw positive revenue growth, while the UK and Finland experienced declines in like-for-like revenue.

• Retailing and manufacturing segments posted strong growth, with manufacturing up 11.1% in the period.

• Integration of Salvador Escoda in Spain was completed, contributing to a 5.7% like-for-like revenue increase in the period.

Market conditions and outlook

• Ireland's construction outlook remains positive, underpinned by government support and a forthcoming National Housing Plan, despite recent softening in activity.

• UK distribution revenue declined 0.5% in the period, attributed to consumer caution ahead of the November Budget.

• Netherlands growth slowed in the second half due to weaker branch and project sales, partially offset by national key account growth.

• Finland's revenue decline eased compared to earlier months, though market conditions remain weak.

• The group maintains a positive outlook, citing structural tailwinds, strong market positions, and a robust acquisitions pipeline.

Share buyback and capital returns

• A seventh share buyback programme completed in November 2025, repurchasing 2.74 million shares for up to £25 million.

• Since May 2022, £428.3 million has been returned to shareholders through buybacks, totaling 49.28 million shares or 20.5% of shares in issue at the start.