Grafton buyouts fuel sales growth

BUILDING materials group Grafton’s British acquisitions — six so far this year — are fuelling sales growth.

The company is expected to make 68% of its forecast pre-tax profits of E120 million in Britain this year.

Company chairman Michael Chadwick gave an upbeat update to shareholders at yesterday’s annual general meeting, saying Grafton’s successful strategy of building on its strong market positions and brands in Britain and Ireland continues. This is done, he said, by participating in both the ongoing consolidation opportunities in the market and in greenfield developments.