Signs of stabilisation were the best Grafton shareholders could hope for last week, as the builders’ merchant and DIY specialist reported a sharp fall-off in profits on the back of the construction downturn in Ireland and Britain.
Pre-tax profits fell to €14 million in the year to December, down from €64 million in 2008 and €250 million in 2006, when the construction boom was in full swing.
Turnover in the group’s British outlets, which account for...
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