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.

Grafton Group is expected to keep expanding its presence in the Netherlands after announcing a deal which will significantly boost its market share in the country.

Grafton Group chief Gavin Slark has said there is nothing in the business’ half-year financial results “suggesting we have medium-term issues”, adding that management sees the uncertainty around Brexit being a short-term threat.

Builders merchanting business, Grafton Group has expressed confidence in its Irish operations continuing to grow, amid concern over its core UK business in the aftermath of Britain’s decision to leave the EU.

Michael Chadwick is to leave Grafton Group — the Dublin-based international builders merchanting business he led for nearly 30 years — at the end of this year.

Grafton Group has further expanded its presence in southern England with the purchase of Allsand Supplies, a single branch general builders merchanting business based in Larkfield in Kent.

Dublin-headquartered builders merchanting and DIY goods provider Grafton Group has continued its international expansion drive with its fifth acquisition in the last 12 months.

The full effects of the Central Bank’s mortgage lending restrictions are yet to be felt but underlying demand for homes offers the potential of strong growth for builders’ merchants.

Irish headquartered building materials group and Woodies owner Grafton Group made a pre-tax profit of £101.2m (€142.5m) last year as the Irish and UK economies continued to improve.