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Building materials distribution group Grafton raised its full-year outlook on profit after reporting strong-than-expected growth in the July to October period.
Full-year adjusted operating profit was now expected to be in the range of £265 million to £270 million. This compared to current consensus forecasts of £256 million.
For the period from 1 July 2021 to 31 October 2021, like-for-like revenue growth was 4.1% year-on-year and 15.7% compared with the pre-pandemic 2019 period.
'The overall group delivered a good performance in the period, against strong comparatives, leading to an increase in current year operating profit guidance supported by the strength of our market positions, geographic diversity and strong financial position,' the the company said.