Grafton profits plunge 50%

Building materials group Grafton has seen a 50% plunge in profits for the first half of the year, down from €106.4m to €53.4m.

Revenues were down 11% from €1.61bn to €1.44bn. Grafton boss Michael Chadwick said the six-month period brought "the most challenging trading conditions...in over 15 years".