Grafton profits to exceed expectations

Grafton Group has said it anticipates its full-year 2012 results to show better-than- expected operating profits, when they are published in March.

In its latest trading update — issued yesterday — the Dublin-headquartered building materials and DIY retail group said operating profit for last year, “will exceed market expectations”, and will not be less than €70m. Grafton generated an operating profit of €56.9m in 2011.

In the group’s last interim management statement, issued in November, management said full-year profits would be at the higher end of market expectations. Davy Stockbrokers had forecast operating profits of €67.3m for Grafton, with Goodbody pencilling in a similar figure.