Grafton group reports pre-tax profits of €33.5m
CONSTRUCTION firm Grafton Group said profits rose sharply last year, while the company also increased its dividend.
For 2012, Grafton reported pre-tax profits of €33.5m, up from €10.3m a year earlier.
Revenues added 6pc to €2.2bn, while the dividend has been increased 13pc on the year to 8.5c.
''The decision to increase the dividend is based on the board's progressive dividend policy driven by growth in underlying profit, cash flow generated from operations and balance sheet strength,'' the company said.
While the company remains “cautious” on its outlook for 2013, company chief executive Gavin Stark said he “expected to make further progress in the year ahead by focusing on a new phase of measures to improve profitability”.
Shares in the company rose sharply this morning, and were up 3.7pc at 11.30. The stock is up more than 60pc in the last year.