Building materials group Grafton issues trading statement
BUILDING materials group Grafton Group has issued a trading statement for 2011 showing turnover has increased 2.5pc to over €2bn.
It added that profits would be between €52m to €55m.
Grafton, which is also a DIY operator, has 70pc of its business in Britain but also warned that a decision by the Government like the decision not to go ahead with legislation to end upward only rent reviews has led to a provision of €19m.
In Britain, like-for-like sales were up 4.5pc compared with 2010 but in Ireland the figure dropped because of lower spending on higher value products.
But overall sales were boosted by better weather.