Grafton shareholders are soothed by stabilisation signs

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.

6th March, 2010

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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