Grafton Group shares surge by over 8%

Shares in Grafton Group jumped by over 8% yesterday as the Dublin-headquartered builders merchanting business said it exited 2016 on a high, with revenues for the year more than 13% ahead.

The group — which derives the bulk of its revenues from its UK operations and recently categorised uncertainty surrounding Brexit as being “a short-term threat” — said its group revenues for 2016 were up by 13.4%, in sterling terms, and by 10.4% on a constant currency basis.

Grafton’s shares are now solely listed in London and sterling is its reporting currency.