Grafton forecasts renewed growth

Published:  31 August, 2010

DUBLIN: The Grafton Group today published its six month interim results which shows that the group has stabilised.

The Group's operating profit was €14.8m, as compared to a loss of €8.3m in the same 2009 period.

Executive chairman Michael Chadwick,  commented: "The market challenges faced by the Group over recent years eased considerably in the first half. Losses in Irish merchanting were much reduced and operating profit in UK merchanting increased strongly.

"The improved trends in Group turnover were sustained in July and August. Grafton's profits are now recovering and we expect further profit improvement in the second half. A good base has been established from which renewed growth in earnings can be generated over the coming years as market conditions normalise."

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