Grafton Group is admitted to FTSE 250
GRAFTON Group, the building materials supplier that owns Woodie's and Atlantic Homecare, will join the influential FTSE 250 series next week.
The decision was announced by the exchange late yesterday after markets closed.
It will officially join the index on December 20, alongside other new entrants including retailer Carphone Warehouse, and retailer JD Sports Fashion.
This is an important development for Grafton, whose decision to leave the Irish Stock Exchange earlier this year in favour of a London listing was taken with the aim of making it into the FTSE 250. The index, which consists of the 101st to 350th largest companies by market capitalisation on the London Stock Exchange, attracts investors from around the world.
Grafton chief executive Gavin Slark (pictured) said last month that confidence in the UK housing market is "slowly but surely returning" as a raft of government measures to spur the sector kick in.
Revenue at the group totalled £1.6bn (€1.9bn) in the 10 months to the end of October, compared with £1.49bn in the first 10 months of 2012.