Grafton turnover in first six months at €1.4bn
Grafton Group’s turnover for the first six months of 2006 has exceeded €1.4bn, it was announced today.
Group turnover in the UK totalled more than €800m for the six months. However, as previously indicated by the firm, like-for-like sales were down slightly on the comparatively strong first six months of 2005.
Earnings continue to be in line with market expectations, according to the building company.
Grafton has continued its property disposal programme and expects to report profits on disposals, including the Atlantic Stillorgan property, in excess of €25m for the period.
The company did open 10 outlets - two Irish DIY stores and eight merchanting branches in the UK during this period, however.
Seven acquisitions were completed in the UK during the six month period for a total consideration of €35m. These added 16 branches, expanding the group’s branch network to more than 500 trading locations.
A Grafton spokesman said today that the firm remains confident of continued growth in profits and earnings per share in 2006.
