Grafton Group (GFTU) Q2 2026 TU earnings summary

Executive summary

• Achieved modest growth in average daily like-for-like sales in H1 2026, with Iberia, Island of Ireland, and Northern Europe offsetting weakness in Great Britain.

• Recent acquisitions in Spain (Mercaluz) and Ireland (Cygnum) are performing in line with expectations.

• Disciplined cost control and margin management remain a focus, with no material supply chain disruptions.

Financial highlights

• Group revenue rose 6.7% year-over-year to £1.34bn, or 4.7% in constant currency.

• Average daily like-for-like revenue increased 0.6% in H1 2026 compared to H1 2025.

• Full-year adjusted operating profit guidance maintained at £190m–£200m.

Outlook and guidance

• Trading conditions in H2 expected to mirror H1, with continued strength in Iberia and Ireland, subdued Northern Europe, and ongoing weakness in Great Britain.

• Medium-term outlook remains positive, supported by structural housing undersupply and anticipated RMI demand recovery.

• Targeting compound annual adjusted EPS growth of over 10% through 2030.