Shares in Grafton have slumped 10% after the Chadwicks merchants and Woodie’s DIY stores-owner warned that full-year profits will be hit by Brexit, after all.

Grafton Group shares fell 2% after the builders’ merchants said it had sold its well-known plumbing supplies firm Plumbase in Britain for a net £60.7m (€68.3m), deal analysts said was consistent with it getting out of low-profit yielding and competitive businesses.

Shares have soared over 10% in the Grafton Group, which is considered the ultimate Brexit bellwether stock because it owns building merchants in the UK, Ireland, and on the continent.

HEITON Group has posted a 29% rise in first-half profits, driven by the strength of the housing market and its DIY arm Atlantic Homecare.

Heiton, the building materials supplier and home improvement outlet chain, said interim profits were up 29% because of continued growth in the residential property market.