Grafton shares rise 5% on positive trading report

SHARES in builders providers Grafton Group Plc rose by more than 5% yesterday after the company said profits for the first six months of the year would be “materially ahead of market expectations”.

Analysts reacted very positively to the trading statement from the company which owns the Woodie’s DIY chain.

Goodbody Stockbrokers’ Robert Eason said: “Given that Grafton are generally conservative in providing guidance to the market, we see today’s statement as a positive indication of very strong underlying trading conditions.”