Shares in builders merchanting and DIY group Grafton surged nearly 8% on the back of latest revenue figures showing the group is defying the drop in consumer confidence in its core market of the UK.

SHARES in builders’ merchanting group Grafton dropped by nearly 8.7% yesterday on the back of the company saying that recovery in its key markets remains slow.

GRAFTON Group saw its revenues increase by 4%, year-on-year, during the first four months of this year.