Grafton Group has reported a 9% revenue increase in the first half of 2017.

In its half year figures, the builders merchant and DIY retailer, reported that its adjusted operating profit before property profit rose by 19% to £77 million, up from £64.8 million in 2016.

It also saw strong organic growth in the Irish Merchanting, Woodie's DIY and Mortar Manufacturing businesses.

Other results include:

• Increase in scale and profitability of the Netherlands merchanting business


• Recovery in profitability in traditional UK Merchanting business

• Continued successful investment in Selco with the opening of nine branches in the year to date and at least two more due to open by the year end

• Another period of strong cash generation with net debt declining to £80.2 million at 30 June 2017 - gearing of 7%

• Continued investment to support future profit growth with £68.6 million deployed on acquisitions and capital expenditure

11% increase in dividend in line with progressive dividend policy

Commenting on the figures, Gavin Slark, Chief Executive Officer said: "We are pleased to report that all geographies contributed to strong growth in revenue and double digit growth in profits and earnings per share in the first half. This encouraging outcome leaves us well placed to deliver our full year expectations."

(MH)