Grafton profits up 29% to €131.9m

Pre-tax profits at building company Grafton were 29% higher at €131.9m in 2004. Turnover in Ireland increased by 25% to €1.9bn while there was a 28% rise in UK turnover to over €1.4bn.

Grafton today put the jump in profits in Ireland down to a "gradual economic recovery as the year developed and record levels of activity in the residential construction market" as well as a total of 17 acquisitions in the year.